Berkadia Completes Over $45 Million Sale of Multifamily Property in Arizona

September 5, 2019

Berkadia Completes Over $45 Million Sale of Multifamily Property in Arizona

September 5, 2019
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PHOENIX – September 5, 2019 – Berkadia today announced the $45.5 million sale of Serafina, a 268-unit garden-style multifamily property in Maricopa, Arizona. Senior Managing Directors Mark Forrester and Ric Holway and Senior Director Dan Cheyne of Berkadia’s Phoenix office secured the sale on behalf of the seller, Arizona-based ReNUE Properties. The buyer was Salt Lake City-based Millburn and Company, and the deal closed on September 4.

“The Goodyear submarket of Metro Phoenix is exploding with jobs along the Interstate 10 and Freeway 303 corridors,” said Forrester. “As companies such as Nike and Microsoft continue to expand into this sector of Metro Phoenix, Serafina is well-positioned to serve the demand generated in the Goodyear and West Valley areas.”

Located at 15400 West Goodyear, Serafina features one-, two- and three-bedroom floor plans with nine-foot ceilings, full-size washers and dryers and other high-quality in-unit amenities. Community amenities include two playgrounds, a business center, a clubhouse, a swimming pool, a hot tub, a fitness center and many different parking options. Residents are afforded convenient access to the Goodyear ballpark and nearby retail locations.