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Phoenix Apartment Complex Trades for More Than Twice Prior Sale Price

California Developer Pays $118 Million for 312-Unit Property Near Chandler

Arboretum at South Mountain in Phoenix was built in 1999. (CoStar)
Arboretum at South Mountain in Phoenix was built in 1999. (CoStar)

A California multifamily investor sold the 312-unit Arboretum at South Mountain apartments in Phoenix's Ahwatukee neighborhood for $118.3 million, 2 1/2 times what it paid for the property less than seven years ago.

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