Phoenix Apartments Sell for $28.8Mln

Brought to you by

Atherton-Newport Investments has paid $28.8 million for Morgan Park Apartments, a 428-unit complex in Phoenix. The Irvine, Calif., firm purchased the property from a San Francisco area investor that had purchased it last year. Morgan Park sits at 8902 North 19th Ave. in Phoenix's Sunnyslope submarket. It has one- and two-bedroom units. Atherton-Newport plans to renovate the property and could convert it into condominiums.