U.S.-based Bridge Acquisitions, part of Bridge Investment Group, has acquired the Laguna Village, an apartment community in Chandler, Arizona from rival P.B. Bell.
The purchase price was considered at about $70.3 million.
The property, which has 31 two-story buildings totalling 363,684 square feet, was acquired from Standard Phoenix Fund for $38.2 million.
Moreso, Bridge Acquisitions plans to continue the renovation projects, including upgrading all the common area amenities of the 460-unit class B property.