Weidner Apartment Homes sells Accolade apartment building in Phoenix to Knightvest Capital for $ 155 million
PHOENIX – Weidner Apartment Homes has completed the sale of Accolade, an apartment complex in Phoenix. Knightvest Capital acquired the asset for $ 155 million, or $ 282,847 per unit.
Built in 1984 on 28 hectares, the Accolade has 548 apartments, four swimming pools, two spas, a resident clubhouse, a rental office, an open-air conference room and a cyber café. Apartments have large washers / dryers, wood-style vinyl floors, walk-in closets, and private patios or balconies.
Steve Gebing and Cliff David from Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and brokered the transaction.