Grubb & Ellis/BRE Commercial LLC negotiated the sale of Monte Viejo, a 480-unit apartment complex in Phoenix.

The value of the transaction was $50.5 million.

Monteviejo Associates LLC purchased the class A community, located at 2220 East Beardsley, from MonteViejo LLC.

Grubb & Ellis/BRE Commercial LLC is an independently owned and operated full-service commercial real estate firm serving metropolitan Phoenix and secondary Arizona cities.

***

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