PHOENIX – August 12, 2020 – Berkadia today announced the sale of Villa de Paz, a garden-style multifamily property totaling 120-units in Phoenix. Senior Managing Director Ric Holway, Senior Director Dan Cheyne and Senior Managing Director Mark Forrester of Berkadia’s Phoenix office completed the $16.2 million sale on behalf of the seller, California-based Prado Revocable Living Trust. The buyer was Tides Equities, also based in California, and the deal closed on July 24.
“Villa de Paz was a unique opportunity for the buyer to acquire a community that has been privately owned and operated for over 15 years,” said Holway. “The buyer plans on renovating the exterior and interior of the community, taking it to a new modern level with luxury finishes.”
Located at 4405 N 103rd Ave., Villa de Paz offers one- and two-bedroom floor plans in a private garden-style site plan with large open courtyards with mature shade trees. Residents are afforded convenient access to Loop 101, Westgate entertainment district, University of Phoenix Stadium, Camelback Ranch and neighborhood shops and restaurants along W Indian School Road.