Sales Transactions
1. Hamilton Zanze has paid $90.3M for the 296-unit Springs at Deer Valley multifamily development on North 23rd Avenue in Phoenix. The apartment community will be rebranded as Ironwood at Happy Valley. In addition to the rebranding, Hamilton Zanze will undertake an improvement campaign for the buildings, amenities and green space. The company’s Mission Rock Residential affiliate will take on the property management duties. Walker & Dunlop’s Dan Woodward, David Potarf, Matt Barnett and Jake Young marketed the property.
2. Legacy 76 LLC has paid $28.07M for 20.558 acres at the NWC of Miller Road and Legacy Blvd. in north Scottsdale at a March 8 Arizona State Land Department auction. Company officials say they intend to partner with developer The Dinerstein Companies to create a multifamily project on the site. No project plans have been finalized.
3. Haven Health Properties LLC (Haven Green Valley Real Estate, LLC) has paid $8.25M for the 111-bed Green Valley Skilled Nursing facility in Green Valley. The previous owner was Pioneer Health Care Management.
4. Camp Verde Land Holdings III, LLC has bought 26.63 acres in an Opportunity Zone in Camp Verde at the SEC of Highway 260 and Homestead Parkway. The firm plans to develop a Build-to-Rent community on part of the site. The buyer was co-represented by Bryce Perez of Re/Max Fine Properties and Celtic Property Management. Seller Verde Valley Holding Company LLC was represented by Capri Barney with the Prescott office of Land Advisors Organization. The sale price was not disclosed.
Lease Transactions
5. LandSolutions Inc. will occupy the seventh floor of Esplanade III at 24th Street and Camelback on a short-term basis as it seeks a permanent location for its U.S. headquarters. No square footage details were provided. LandSolutions officials have said the headquarters’ permanent home will likely be in the same general area as its current location.