It was a big year for multifamily transactions in metro Phoenix, with the biggest transactions sliding in at the end of the year, and more in escrow set to close by year-end.

Boasting 1,222 units, Vaseo, the largest apartment community in Phoenix, sold for $325 million, closing on Dec. 15, while a 5-property portfolio totaling 1,448 units sold for $414.5 million, closing on Dec. 21.

The Vaseo property was co-listed by CBRE Group Inc. and Berkadia, said Matt Pesch, vice chairman of institutional properties for CBRE.

Phoenix-based 3rd Ave Investments LLC bought the 5-property portfolio, bringing its metro Phoenix portfolio to 29 properties, said Zev Hendeles, founder of 3rd Ave Investments.

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By Angela Gonzales - Senior Reporter, Phoenix Business Journal