Gelt Sells Anzio Apartments

Tempe, AZ, August 27, 2015

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.

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