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Commercial Real Estate Transactions 04-14-20

4. Vertex. Credit: Colliers International in Arizona

Sales Transactions 

1. Button Capital Limited purchased Park Place at Fountain Hills, a 230-unit Class A multifamily community in Fountain Hills, for $63.5M. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch structured the transaction on behalf of the seller, Real Capital Solutions. Rocco Mandala, Anthony Valenzuela, and Dominique Damerell of CBRE Debt & Structured Finance arranged the multifamily debt on behalf of the buyer. 

2. Meritage Homes of Arizona purchased 73 acres, platted for 79 SFR lots at The Villages at Silverhawke in Oro Valley for $5.055M. The seller, Capri Company was represented by Greg Wexler and James Kai, CCIM, of Wexler and Associates. 

3. Fringe Capital Partners acquired Scottsdale Hayden, a 25-unit boutique apartment community at 2635 N. Hayden Road, from Roger Frantz and Barbara Ernestus for $4M. Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke of CBRE in Phoenix represented the seller and buyer. 

4. Chandler Commercial Building B, LLC purchased the Vertex Education building, a 28.2KSF, Class A office building within Chandler Airpark, for an undisclosed amount. Mindy Korth, Todd Noel and Sean Westfall of Colliers International in Arizona represented the seller, Chandler CSO, LLC. Korth also partnered with Chris Roach and Matt Roach of Colliers International in Arizona to represent the buyer.   

5. Kinsale Holdings, LLC purchased The Alden, a 16-unit boutique apartment community at 3109 N. 36th Street, Phoenix, for $2.9M. Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke of CBRE in Phoenix represented the seller, Suzanne C. Vazzana & Alden E. Seifried III,  and buyer. 

6. Investors bought Old Vail Plaza, a 7.2KSF, four-suite center at 10235 E. Old Vail Road, in the Houghton Town Center, for $2.8M. Scott Ruble, Mark Ruble, Chris Lind and Jamie Medress, investment specialists in Marcus & Millichap’s Phoenix office, handled the sale. 

 

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