Sales Transactions
1. JB Partners has acquired the 274-unit SeventyOne15 apartment development in Scottsdale for $150M. Developer Alliance Residential completed the project last month.
2. Life Storage Inc. has paid $142M to various entities owned by Levine Investments for a seven-site self-storage portfolio. Six of the Allstate-branded facilities are in Phoenix, with the seventh located in Minnesota.
3. ABI Multifamily announced the $37M sale of The Flats at 2030 Apartment Homes, a 237-unit multifamily apartment community in Phoenix. ABI’s Alon Shnitzer, Rue Bax, Eddie Chang and Doug Lazovick represented the Canada- based buyer and Texas-based seller.
4. Marcus & Millichap announced the $9.5M sale of Dakota Canyon, an 80-unit apartment community in Tucson. M&M’s Clint Wadlund, Hamid Panahi and Art Wadlund listed the property for the undisclosed seller and procured buyer Break of Day Capital.
5. An entity of Brown Worden Properties (WAA Investment Holdings, LLC) has purchased an approximately 50-acre site in Tucson’s La Estancia master planned community for $6.25M. The company plans to hold the land for investment and eventual development. The seller was an entity of Sunblet Holdings (SBH La Estancia LP). Will White and John Carroll with Land Advisors Organization brokered the deal.
6. The 25-unit complex The Pointe Apartments in Tucson has sold for $3.88M. The seller – an entity of Prime Capital Investments – renovated the community after buying it for $1.6M last January. Buyer Pointe Apartments LLC is an affiliate of AndMark Investment Fund. Both parties were represented by Allan Mendelsberg and Conrad Martinez with Cushman & Wakefield | PICOR.
7. 2030 East, L.L.C. purchased a 24KSF retail building at 354 S. Highway 92 in Sierra Vista, from ORION SIERRA VISTA AZ LLC for $2.3M. Jose Dabdoub and Ryan McGregor with Cushman & Wakefield | PICOR represented the seller. Robert Fischrup and Eric Lamb with Vast Commercial Real Estate Solutions, LLC, represented the buyer.