Stepp Commercial completes $12.8 million acquisition of a 173-unit apartment property in Phoenix

Stepp Commercial, a leading multifamily brokerage firm in the Los Angeles market, has completed $12.8 million acquisition of Ocotillo Apartments, a 173-unit apartment community located at 1780 West Missouri Avenue in Phoenix, Ariz. A total of 118 units within the property are slated as affordable housing.

Robert Stepp and Mark Witsken of Stepp Commercial represented the buyer, a Los Angeles-based private investment group. The seller was a Phoenix-based private investor.

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