PHOENIX – June 29, 2018 – Berkadia today announced $39.75 million in combined sales for Village Sereno Townhomes and Sun Wood Apartment Homes, two multifamily garden-style properties in Arizona. Senior Managing Directors Mark Forrester and Ric Holway and Senior Director Dan Cheyne of Berkadia’s Phoenix office led the sales on behalf of the seller for both transactions, California-based RK Properties entities.

“Both Sun Wood, an active senior community with value-add potential, and Village Sereno, a strong Class A townhome rental community with attached garages for every apartment, are well situated to serve their respective northwest Metro Phoenix submarkets,” said Forrester.

Located at 8622 N. 59th Ave. in Glendale, Arizona, Village Sereno Townhomes was sold to a private investor from California for $16.5 million on June 25. The property includes 93 two- and three-bedroom units with washers and dryers, electric kitchens, spacious walk-in closets and private patios and balconies. Community amenities include a pool, gated access, a clubhouse and a picnic area with barbeques. Residents are centrally located in Glendale, just minutes from popular restaurants and shopping. Village Sereno Townhomes also affords convenient access to Loop 101 demand generators and Interstate Route 17.

Canada-based Western Wealth Capital purchased Sun Wood Apartment Homes for $23.25 million, and the sale closed on June 20. The property is located at 9415 N. 99th Ave. in Peoria, Arizona and features 220 units. The one- and two-bedroom floorplans include central air, spacious walk-in closets, private patios and balconies and dishwashers. Residents can enjoy community amenities such as a pool, a clubhouse, a picnic area with barbeques and a community library. Sun Wood is less than two miles from Sun City Country Club and provides convenient access to Westgate City Center, Tanger Outlet Westgate and Park West shopping centers.