Gelt Sells Anzio Apartments
On August 27th, 2015, escrow closed for the sale of Anzio Apartments in Tempe, Arizona. Gelt sold the property for $19,500,000, equating to to $81,250/unit and $105/sf. The sale of the propery netted Gelt investors a cumulative return of approximately 55% and an annual return of approximately 29% over the 23-month ownership period.
To learn more details on the ownership and sale of Anzio Apartments, please click here to read the property case study.