44 Monroe Sold to Boston REIT for $40 Million

Source:  Business Journals

Downtown Phoenix’s 44 Monroe — Arizona’s tallest residential tower — has officially been sold to a publicly-traded real estate investment trust in Boston for $40 million. The sale was part of a $246 million portfolio deal that included three other luxury apartment projects, which are Highgrove in Stamford, Conn.; Mosaic II in Houston and San Pedro Lofts in San Pedro, Texas. The buyer, Winthrop Realty Trust (NYSE:FUR), first disclosed it had entered an agreement to ...

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