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Thursday, November 20, 2008 Multi-Family
Seattle, Wash.-based Pillar at Westgate, LLC has purchased the Alexan Westgate apartments in Glendale, Ariz., for $46.43 million from Scottsdale, Ariz.-based IGTBG Westgate Apartments L.P. The deal was brokered by Sean Cunningham, Tyler Anderson and Jack Hannum of CB Richard Ellis. Alexan Westgate, which sold for $185,258 per unit, is located at 6610 N. 93rd Ave. and contains 251 units. Built in 2007, the complex is within blocks of the Jobing.com Arena and the Westgate City Center mixed-use project in Glendale, about 18 miles northwest of Phoenix. Cunningham is a vice chairman at CBRE and has been with the company since 1980. Anderson, a vice chairman and CBRE broker since 1983, concentrates on multi-housing properties. He was the recipient of CBRE's National Teamwork Award in 2004. Together, Cunningham and Anderson have closed $8 billion in multi-family properties. Hannum is the lead financial analyst for the Anderson-Cunningham team and has been with CBRE since 1998. The three-man team recently negotiated the $27.7 million sale of the 163-unit Alexan Bella Vista in Peoria. Address: 6610 N. 93rd Ave., Glendale, Ariz. Size: 251 units Built: 2007 Filed Under: Multi-Family E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us Comments on this article
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