Gelt Sells The Huntington Apartments

Tempe, AZ, September 29, 2015

On September 29th, 2015, escrow closed for the sale of the Huntington Apartments in Tempe, Arizona. The 442 unit property was sold by Gelt for $34,600,000 ($78,280/unit and $99/sf), just 18 months after Gelt's acquisition of the property back in April of 2014. The sale of the property netted Gelt investors a cumulative return of approximately 54% and an annual return of approximately 36% over the ownership period. In addition, Gelt investors will receive an excess distribution in the months to come.

View the full article, click here.