Tag Archives: Bret Polachek

Country Club Estates, CushWake

Cushman & Wakefield Negotiates $17.1M Country Club Estates Sale in Flagstaff

Cushman & Wakefield of Arizona, Inc. has negotiated the $17.1M sale of Country Club Estates in Flagstaff.

The property, located at 5205 E. Courtland Blvd. and built in 1984, contains 201 units and was 95% occupied at the time of the sale. Jackson Square Properties of San Francisco sold the property to Virtu Investments of Larkspur, Calif. The sale price brought $85,075 per unit, which equates to $115.96 per square foot.

“This property represents an outstanding value-add opportunity for the buyer by rehabbing the units and taking advantage of Flagstaff’s under-supply of multi-family housing,” said Jim Crews.

Crews and Brett Polachek of Cushman & Wakefield represented the seller in the transaction.

RED Awards Banner

Cushman & Wakefield Negotiates $17.1M Country Club Estates Sale in Flagstaff

Cushman & Wakefield of Arizona, Inc. has negotiated the $17.1M sale of Country Club Estates in Flagstaff.

The property, located at 5205 E. Courtland Blvd. and built in 1984, contains 201 units and was 95% occupied at the time of the sale. Jackson Square Properties of San Francisco sold the property to Virtu Investments of Larkspur, Calif. The sale price brought $85,075 per unit, which equates to $115.96 per square foot.

“This property represents an outstanding value-add opportunity for the buyer by rehabbing the units and taking advantage of Flagstaff’s under-supply of multi-family housing,” said Jim Crews.

Crews and Brett Polachek of Cushman & Wakefield represented the seller in the transaction.

The Colony, Cush Wake

Colony Apartments in Phoenix Sell for $8.6M

Cushman & Wakefield of Arizona, Inc. has completed the $8.6M sale of Colony Apartments, 4337 N. 53rd Lane, in the Maryvale suburb of Metro Phoenix.

The property was purchased by CalCap Properties, Inc. of Pasadena, Calif., and sold by Maryvale Urban Investments, LLC dba Bank of America. Built in 1979, Colony Apartments consists of 236 one and two-bedroom units averaging approximately 900 square feet each. The $8.6M sale price equates to $36,441 per unit and $40.47 per square foot.

“The purchase of the Colony apartments represent an excellent opportunity for the new owner to upgrade the units and take advantage of the general growth in the Phoenix multi-family market, ”said Jim Crews, senior director with C&W. 

Crews and Brett Polacheck of C&W’s Multifamily Advisory Group negotiated the transaction.