Speedwagon Buys Unsold Condos at Sunscape Villas for $4M

Northbrook-based Speedwagon Properties has purchased the remaining 62 units of Sunscape Villas, a 442-unit property near the Old Town district in Scottsdale, Arizona. The property was converted into condos from an apartment complex by Centrum Properties and MCZ Development LLC. Speedwagon has acquired the unsold condos for approximately $4 million, or about $65,000 per unit. Steve Khoshabe, Managing Director of Speedwagon, confirmed that the sale was completed in an all-cash transaction.

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