Tag Archives: bill hahn

Villa Contenta, Courtesy of Colliers International

Villa Contenta sells for $3.44M

Colliers International in Greater Phoenix recently completed the sale of Villa Contenta, a 62-unit Class B multifamily complex in the Camelback Corridor of Phoenix for $3.44 million or $55,564 per unit ($69.87 sf).

3rd Ave Investments of Phoenix purchased the property, located at 1523 W. Colter Street, from Pioneer Colter LLC of White Plains, NY. This is the second purchase Zev Hendeles, principal of 3rd Ave Investments, has made in the last month. Hendeles recently closed on Aster Gardens in Phoenix, a 28-unit apartment complex, and is actively pursuing other deals.

Both parties were represented by Colliers International’s HSK Multifamily Southwest Team, led by Bill Hahn, Jeffrey Sherman and Trevor Koskovich; executive vice presidents in the Phoenix office.

The 49,300-square-foot Villa Contenta, built in 1968-1969, consists of 15 buildings constructed on a rectangular site of approximately 3.75 acres. The complex has about 77 percent two-bedroom and 23 percent three-bedroom apartments, 12 of which have in-suite washers and dryers.

The unit mix is 39 two bed/one bath (750 sf), nine two bed/one bath (750 sf) with washer/dryer, 11 three bed/one and a half baths (950 sf), and three three bed/one and a half baths (950 sf) with washer/dryer. Common amenities include a swimming pool, laundry facilities and 115 uncovered parking spaces.

“Proximity to light rail has historically shown to improve property values as it encourages redevelopment of the surrounding areas, which is underway in this area,” said Sherman.
The complex is minutes away from Grand Canyon University, which is undergoing a campus expansion project increasing the demand for housing.

“Villa Contenta offers a strategic location for future growth as it sits between the Grand Canyon University expansion, the bourgeoning Midtown Phoenix Corridor, North Central Phoenix, and the Camelback Corridor,” said Sherman, noting that the large lot size provides a variety of potential opportunities in the future.

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Colliers announces first quarter broker promotions

Colliers International in Greater Phoenix recently promoted 10 brokers, including one to senior executive vice president and three to executive vice president. Each year, Colliers promotes brokers in the first quarter.

“The promotions recognize the dedication, talent and expertise of our brokers who know how to maximize opportunities for our clients,” said Bob Mulhern, managing director of Colliers Phoenix office. “The number of promotions points to the accelerating success of Colliers in the Phoenix marketplace. We’ve recruited 23 new brokers and more than doubled our production in the past five years,” he added.

William S. Littleton SIOR, MCR, SLCR was promoted from executive vice president to senior executive vice president of corporate services. Littleton has almost 30 years of experience with Colliers. This position is awarded for high business production, significant industry experience and expertise and local office leadership. Littleton has leased and sold in excess of $500 million of industrial and office properties throughout North America, EMEA (Europe, Middle East and Africa) and Asia/Pacific.

Bill Hahn, Jeff Sherman and Trevor Koskovich of the HSK Multifamily Team were promoted to executive vice president from senior vice president. This team’s success in Arizona led it to branch out to other states, where it is actively disposing of assets in Las Vegas; El Paso, Texas; and Albuquerque, N.M.

Promoted from vice president to senior vice president were Brad Cooke and Rob Martensen, SIOR, CCIM. Cooke joined Colliers in 2006 and is part of the Colliers Cooke Team, where his primary role is client relationships in acquisitions and dispositions in the multifamily investments sector.

Martensen, during his 18 years with Colliers, has been involved in more than 700 transactions involving industrial sales, leasing, build-to-suits and land sales. He specializes in assisting industrial landlords, developers and tenants, helping them make successful decisions in the Phoenix market by providing a deep knowledge of current industrial trends and product types.

Associate vice presidents who are now vice presidents are Marcus Muirhead and Ryan Timpani. Muirhead joined Colliers in 2006. A member of the Colliers Healthcare Services Group, he specializes in medical office and retail investment properties. Timpani is a member of the Lambeth-Noel-Timpani team—one of the top producing office properties teams in Metro Phoenix. He joined Colliers in 2010.

Former senior associates Danny Plapp and Peter Bauman were named associate vice presidents. Plapp specializes in landlord advisory services in Class A and B office properties throughout metropolitan Phoenix. He joined Colliers in 2012.

In addition to becoming associate vice president, Bauman was named Rookie of the Year for Colliers International in Greater Phoenix. This honor is given to a broker with one to two years’ experience who has met the Colliers’ Phoenix office standards for a productive year. His focus is investment sales, especially national net leased assets.

Colliers top producers in 2014 were Cindy Cooke, Brad Cooke, Trevor Koskovich and Jeff Sherman, Todd Noel and Keith Lambeth, William S. Littleton, William R. Hahn, Paul Sieczkowski, Rob Martensen, Kim Soule’, Philip A. Wurth, Don MacWilliam and Payson MacWilliam, Mindy Korth, John Barnes, Tivon Moffitt and Jim Keeley. 

Recognized for 30 years of service was Tom Knaub, vice president. Acknowledged for 10 years of service was Jerry Tenge, senior vice president.

Seven brokers have five years of tenure: Bob Broyles, senior vice president; Tim Dulany, vice president; Hahn, Koskovich and Sherman, all new executive vice presidents; Tyler Smith, vice president and Phil Wurth, vice president. Administrative assistant Bertie Burckle was recognized for 20 years of service.

In the Real Estate Management (REMS) division of Colliers International, Jonni McCray was promoted to operations coordinator from administrative assistant.

Three REMS employees were recognized for 10 years of service: Eulalio M. Castaneda and Larry Dillion, both at ASU Brickyard and Tammy Forbis, assistant property manager.

Those with five years of tenure included Amanda Joiner, senior service center coordinator and

McCray. Also with five years are Steve Skibbe, building engineer; Robert Verdugo, maintenance technician; and Brian Wedgeworth, assistant chief building engineer; all at the ASU Downtown Campus.

Indian Wells, Courtesy of Colliers

Class-B Apache Junction apartments sell for $9.66M

Colliers International in Greater Phoenix recently completed the sale of Indian Wells, a 176-unit, class-B multifamily complex in Apache Junction, for $9.66 million, or $54,886 per unit, which is $54.88 per square foot.

Sonoma Valley LLC of Scottsdale purchased the property, at 975 South Royal Palm Road, from CSFB 2004-C5 Apache Apartments, LLC a subsidiary of LNR partners of Miami Beach.

Bill Hahn, Jeffrey Sherman, and Trevor Koskovich, senior vice presidents with Colliers International’s HSK Multifamily Southwest Team, represented both buyer and seller.

The complex was developed in 2001 under the Federal Low Income Housing Tax Credit Program. A foreclosure led to the removal of rent restrictions, elimination of compliance requirements for operating the property, and ultimately the late 2014 sale.

Situated on 9.9 acres at the base of the scenic Superstition Mountains, the apartments are equally divided into two- and three-bedroom units within 11 two-story buildings. All have side-by-side washer/dryers, walk-in closets, private patios/balconies, microwave ovens and dishwashers. A separate rental office is located on the property and boasts wide frontage along Royal Palm Road.

Common amenities include pool, spa, fitness center, basketball court, clubhouse, two playgrounds, outdoor barbeques, picnic area, and 182 covered parking spaces plus 173 uncovered spaces.
Indian Wells is positioned along Old West Highway, a major east-west thoroughfare running through Apache Junction and into Mesa and Tempe. It is two miles north of US Route 60, giving resident’s greater access to Metro Phoenix.

The community is surrounded by small commercial developments, and well as manufactured and single-family homes. A Walmart Supercenter-anchored neighborhood shopping center is located about two miles northwest, while the master-planned Gold Canyon Ranch is approximately three miles southeast. Indian Wells is within walking distance to Central Arizona College.

“This purchase enables the buyer to reposition this asset as the best market-rate apartment in Apache Junction,” said Koskovich.

Cove on 44th

Cove on 44th sells for $8M

Colliers International in Greater Phoenix recently completed the sale of Cove on 44th, a 256-unit class-B apartment complex, for $7.78 million, or $30,390 per unit.

Cove Phoenix LLC of Phoenix purchased the property, located at 4030 N. 44th Avenue, from Cove at 44th LLC of Los Angeles.

Bill Hahn, Jeffrey Sherman and Trevor Koskovich, senior vice presidents with Colliers International’s HSK Multifamily Southwest team, represented both buyer and seller.

Built in 1983, the desert landscaped Cove on 44th consists of 134,400 square feet in 13 two-story buildings constructed on an irregular shaped site of 8.05 acres. This Maryvale submarket complex is close to public transportation and minutes away from Phoenix College, Grand Canyon University and Universal Technical Institute.

Units are divided evenly between studio and one-bedroom apartments with full-sized appliances, walk-in closets and private patio/balcony space. Common amenities include two swimming pools, a spa, tennis court, laundry facilities and outdoor barbeques. A separate clubhouse, which is undergoing renovation, and leasing office are located in the center of the property which is visible from 44th Street.

“This was a good opportunity for the buyer to acquire a clean building with solid cash flow and an upside through modest interior improvements,” said Koskovich, adding, “The property is positioned in a rebounding submarket that will benefit from the continued recovery in the local economy.”

Cedar Court, WEB

Cedar Court in Glendale sells for $6.25M

Colliers International in Greater Phoenix recently completed the sale of Cedar Court in Glendale, a 116-unit class-B multifamily complex, for $6.25 million, or $53,879 per unit.

Emma Capital Properties Inc. of Toronto, Ontario, purchased the property, at 5215 W. Peoria Avenue, from Cedar Court Condominiums LLLC of Glendale.

Bill Hahn, Jeffrey Sherman, and Trevor Koskovich, senior vice presidents with Colliers International’s HSK Multifamily Southwest team, represented both buyer and seller.

Built in 1986, Cedar Court has 77,408 square-feet, in seven two-and three-story buildings, positioned on 4.07 acres. The community has 56 one bed/one bath units with 580 square-feet, 24 one bed/one bath units with 630 square-feet; and 36 two bed/two bath units with 828 square feet.

The condominiums are within two miles of Arizona State University West and Glendale Community College, and just over three miles from the Thunderbird School of Global Management. Other nearby employment centers include the Aurora Behavioral Health System and the Banner Thunderbird Medical Center. Cedar Creek is three miles away from Interstate-17.

“The buyer was attracted to the high-quality design and construction of this 1980s-era property. This was clearly an A-quality property at the time it was built,” said Hahn.

Main Pic Promenade, WEB

Promenade at Desert Sky sells for $11.85M

Colliers International in Greater Phoenix recently completed the sale of Promenade at Desert Sky, a 300-unit class-B apartment complex in Phoenix, for $11.85 million, or $39,500 per unit.

Desert Sky Estates, LLC, of Woodmere, New York, purchased the property, at 6233 W. Thomas Road, from WT Promenade LLC of Englewood, Colo.

Bill Hahn, Jeffrey Sherman, and Trevor Koskovich, senior vice presidents with Colliers International’s HSK Multifamily Southwest team, represented both buyer and seller.

Built in 1987, Promenade at Desert Sky features the highest quality architecture and design compared to class-B competitors in the Phoenix multifamily market. The apartment community consists of 216,140 square-feet, in 17 two-story buildings, situated on 11.4 acres. A wide frontage area faces an active thoroughfare at the entry.

Unit mix is 68 one bedroom/one bath, at 525 square-feet, and 124 one bedroom/one bath, at 690 square-feet. There are 68 two bedroom/one bath, 860 square-feet, and 40 two bedroom/two bath, 910 square-feet, apartments.

“Promenade at Desert Sky is one of the more physically attractive multifamily assets in the immediate area. The buyer will be able to leverage this attribute along with light physical improvements to derive above average performance in terms of rents and occupancies moving forward,” said Sherman.

Dobson Springs, Colliers, WEB

Colorado company purchases Dobson Springs Apartments

Colliers International in Greater Phoenix recently completed the sale of Dobson Springs, a 120-unit Class B apartment complex, for $9.12 million, or $76,000 per unit.

 

The Standard-Mesa, LLC, of Denver, Colo., purchased the complex, located at 1325 W. Guadalupe Road in Mesa, from Synergy Dobson Springs LP in Phoenix.

 

Bill Hahn, Jeffrey Sherman and Trevor Koskovich, senior vice presidents with Colliers International’s HSK Multifamily, served as the brokers for the buyer and the seller.

 

Built in 1980, the garden style, 102,600-square-foot apartment property is situated on 4.46 acres and consists of five three-story buildings. Unit mix is 18 one bedroom/one bath and 102 two bedroom/two bath apartments. The complex has been extensively remodeled, inside and out, during the past four years.

 

“Dobson Springs gives the buyer an opportunity to step into a turnkey asset,” Sherman said, adding, “As the long list of recent capital improvements show, very little remains to be completed, allowing the buyer to reap the benefits of strong cash flow and a dynamic location with many nearby demand drivers.”

 

Colliers HSK Multifamily uses the extensive resources of Colliers International to assist in the placement of debt, investment sales and appraisal services. By ensuring strong and efficient systems are in place for the marketing, acquisition and disposition of properties and providing superior service, Colliers HSK Multifamily has achieved the highest market share of sales of B and C-quality multifamily assets in Arizona.

Villa Serena Main Pic, Colliers, WEB

Villa Serena apartment complex sells for $6.42M

Colliers International in Greater Phoenix recently completed the sale of Villa Serena, a 137-unit Class B apartment complex, for $6.42 million, or $46,861 per unit.

Janet LePage of North Vancouver, BC, purchased the complex, located at 4221 W. Dunlap Avenue, from Bligh Group, LLC, of Rancho Santa Fe, Calif.

Bill Hahn, Jeffrey Sherman and Trevor Koskovich, senior vice presidents with Colliers International’s HSK Multifamily, served as the brokers for the buyer and the seller. Colliers HSK Multifamily uses the extensive resources of Colliers International to assist in the placement of debt, investment sales and appraisal services. By ensuring strong and efficient systems are in place for the marketing, acquisition and disposition of properties and providing superior service, Colliers HSK Multifamily has achieved the highest market share of sales of B and C-quality multifamily assets in Arizona.

“Villa Serena provided the buyer with a good opportunity to acquire a clean building with solid cash flow and an upside through modest interior improvements,” said Sherman.

Built in 1982, the garden-style 117,732-square-foot apartment property is situated on 5.04 acres and consists of one, two and three-story buildings.

Unit mix is 63 one bedroom/one bath apartments and 60 two bedroom/two bath apartments. An additional 14 two bedroom/two bath flats are single-level casitas.

“This is a clean property positioned in a rebounding submarket that will benefit from the continued recovery in the local economy,” Sherman said.

The Villas at Roger Road, Courtesy of Colliers International

Tucson multifamily complex sells for $5.68M

Colliers International in Greater Phoenix recently completed the sale of Villas at Roger Road, a 232-unit Class B apartment building in Tucson, for $5.68 million, or $24,504 per unit.

Equilibrium Villas, LLC, of Washington, D.C., purchased the complex, located at 3985 N. Stone Ave., from Blue Valley Apartments, Inc. of West Palm Beach, Fla.

Bill Hahn, Jeffrey Sherman and Trevor Koskovich, Senior Vice Presidents of Colliers HSK Multifamily, served as the brokers for the buyer and the seller. Colliers HSK Multifamily uses the extensive resources of Colliers International to assist in the placement of debt, investment sales and appraisal services. By ensuring strong and efficient systems are in place for the marketing, acquisition and disposition of properties and providing superior service, Colliers HSK Multifamily has achieved the highest market share of sales of B and C-quality multifamily assets in Arizona.

“Villas at Roger Road presented an excellent opportunity to acquire an investment asset that could quickly appreciate through property repairs and the continued stabilization of income,” Sherman said.

The unit mix includes 88 one-bedroom and 144 two-bedroom/one-bathroom apartments, ranging from 500 square feet to 750 square feet. The building was constructed in 1984.

Left to right, from top: Cindy Cooke, Bill Hahn, Trevor Koskovich, Keith Lambeth, Bill Littleton, Don Macwilliam, Payson Macwilliam, Todd Noel, Jeff Sherman.

Phoenix Brokers Are Among Top at Colliers International

Colliers International in Greater Phoenix’s national office recently honored brokers for their financial achievements, ranking nine of them in the top 10 percent of brokers in the United States, Canada and Latin America.  

The brokers were recently recognized as 2013 Everest Club qualifiers at a reception in Atlanta during the Colliers International 2013 Americas Conference.

“The foundation of our success is the strength, expertise and depth of our staff,” said Bob Mulhern, the managing director of Colliers International in Greater Phoenix. “We are very proud of our top brokers who provide outstanding service to help our clients accelerate their businesses.”

 

2013 Everest Club honorees:

·       Cindy Cooke, Executive Vice President

·       Bill Hahn, Senior Vice President

·       Trevor Koskovich, Vice President

·       Keith Lambeth, Senior Vice President

·       Bill Littleton, Senior Vice President

·       Don MacWilliam, Senior Vice President

·       Payson MacWilliam, Senior Vice President

·       Todd Noel, Senior Vice President

·       Jeff Sherman, Vice President