3333 Dunlap Associates LLC, formed by Bear Holdings Group LLC (Gary Saterbak, et al, principal) paid $8,064,000 ($28,000 per unit) to purchase the 288 unit Copper Glen apartments located 3333 W. Dunlap Ave. in Phoenix. The seller was Copper Glen Partners LP, a limited partnership in Vancouver, BC, Canada (Eyhan Caldwell, principal). The deal was brokered through Bill Hahn, Jeff Sherman and Trevor Koskovich (HSK) of Colliers International in Phoenix. Maricopa County records show the buyer acquired the property with a $10.8 million loan issued by Ladder Capital Finance LLC of New York. The financing was arranged through Churchill Capital Company. The complex was built in 1973, and the property will undergo a complete renovation by the new owner.
Summit Equities Inc. (Michael Thom, Joseph Rosen and Ryan Lynch, et al, principals) purchased the 320-unit Oak Tree Park Apartments located at 5800 Osuna Rd. NE, Albuquerque, NM for an undisclosed price. The list price at time of marketing was $29,000,000. The seller was TGM Associates (John Gochberg, et al, principal.). The deal was brokered through Bill Hahn, Jeff Sherman and Trevor Koskovich (HSK) of Colliers International in Phoenix and Cynthia Meister of Colliers International Albuquerque. The property was acquired with a CMBS first mortgage loan arranged by Brandon Harrington and Matt Steffen Walker & Dunlop in Phoenix. The recently renovated complex was built in 1985.
Monarch Investment & Management Group, LLC (Bob Nicolls, principal) purchased the 339 unit Sedona Ridge apartments located at 3400 Wyoming Blvd. NE, Albuquerque NM for an undisclosed price. The list price at time of marketing was $18,000,000. The seller was TGM Associates (John Gochberg, et al, principal). The deal was brokered through Bill Hahn, Jeff Sherman and Trevor Koskovich (HSK) of Colliers International in Phoenix and Cynthia Meister of Colliers International Albuquerque. The buyer’s financing for this acquisition was arranged through Berkadia in Denver, CO. The recently renovated complex was constructed in 1973.
