Tag Archives: cindy cooke

Photo by Mike Mertes, Az Big Media

Cindy Cooke – Most Influential Women In Commercial Real Estate

The 12 women who made AZRE’s Most Influential Women in Commercial Real Estate list are an extraordinary bunch. While that seems implied in the recognition, it’s something that goes beyond their professional achievements. Many of these women have held minimum wage jobs, slowly working through the ranks to a C-suite. A few have known the struggles of being a single parent and what it’s like to be the only female voice in a boardroom. All of these women are active in their communities and industry organizations. And, all of them are changing the Arizona landscape one deal, drawing and deadline at a time.

Cindy Cooke
Senior executive vice president
Colliers International
Years in the industry: 33+

Cindy Cooke leads one of the top multifamily brokerage teams in the country. Throughout her career, she has completed more than $2B in transaction volume. In 2007, she set the record for the largest apartment sale in Arizona history; the $427.5M, 5,178-unit, 12-property portfolio sale in Phoenix closed in 67 days. Early in her career, she started her own commercial brokerage and mortgage broker firm, where she was the sole proprietor for a decade. She now works on a team at Colliers International with her son, Brad.

What is the hardest professional or personal challenge you’ve faced and how did you overcome it?
Achieving the next level of success without comprising service to existing clients and family, seizing opportunities as they arise and building strong teams.

What do you consider your greatest professional accomplishment?
Still working on it.

What is your favorite part of your job?
Creating success for my clients.

When you were a child, what did you want to be when you grew up and how did that aspiration affect your career?
I knew I wanted to be in the real estate business. I never deterred from that goal.

What is one little-known fact about you?
I have an organic farm in North Carolina where we grow corn, wheat and soybeans.


Colliers completes sale of luxury apartment complex in Florida

Colliers International in Greater Phoenix recently completed the sale of the 390-unit Grand Reserve at Park Isle, a gated Class A multifamily community in Florida.

Grand Reserve Borrower LLC of Dallas, Texas purchased the complex, located at 2600 W. Grand Reserve Circle, in Clearwater Florida from Standard Grand Reserve LLC of Arcadia, California.

The seller was represented by the Colliers Cooke Team, led by Cindy Cooke, senior executive vice president, and Brad Cooke, vice president, in Colliers International’s Phoenix office, which partnered with John Stone, principal and managing director, in the Colliers Clearwater office in Florida.

Built in 1998, Grand Reserve offers luxurious, spacious and well-appointed floor plans, from one to four bedrooms, with all units featuring full-size washers and dryers, kitchen design with island seating, crown molding, gas fireplaces, arched doorways, roman tubs, bonus rooms for office or library, 9-foot ceilings and tucked-under garages.

Floor plans average 1,175 square feet, with units ranging from one bedroom flats at 766 square feet to four bedroom units as large as 1,800 square feet.

The tropical resort landscaped grounds center around a tranquil lake and water features. The extensive amenity package includes a clubhouse, two resort-style pools, spa/hot tub, state-of-the-art fitness center, volleyball and tennis courts, movie theater, billiards room and dog park. Grand Reserve is 10 minutes from the much sought after Clearwater Beach.

Grand Reserve at Park Isle is centrally located to allow immediate access to several dynamic employment markets including six highly reputable medical centers and numerous business and education districts. Access to downtown areas of Clearwater and St. Petersburg are available via U.S. Highway 19, which connects with Gulf Bay Boulevard, the main road to the Westshore Business District and the city of Tampa.

“This high-end gated community has a density of only 14.44 units per acre which is hard to replace today in this infill location,” said Cindy Cooke, adding, “Grand Reserve truly feels like a resort within minutes of the beach.”


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.

Midtown on Main, Courtesy Colliers International

Midtown on Main Apartments sell for $34.95M

Colliers International in Greater Phoenix recently completed the sale of the 472-unit Midtown on Main Apartments, a transit-oriented, class-B complex in Mesa for $34.95 million, or $74,047 per unit.

Houston-based Domain Acquisitions LLC in partnership with BH Equities LLC of Des Moines (DFA/BH Midtown LLC of Houston, Texas) purchased the complex, located at 2121 West Main Street, from Bay Club Partners LLC of Beaverton, Oregon.

The transaction was brokered by the Colliers Cooke Team, led by Cindy Cooke, senior executive vice president, and Brad Cooke, vice president.

Built in 1985, Midtown on Main is a garden-style community with 42 three-story buildings on 18.5 acres. Within 391,178 square feet of total living space, the unit mix is 186 one bed/one bath units (730 sf), and 286 two bed/two bath units (893 sf).

This gated community realized $4 million in capital improvements in 2006, and the new owner will renovate 100% of the unit interiors and significantly enhance and expand the site’s amenity package. The amenities include a 10,000-square-foot recreation facility with indoor basketball and racquetball courts, three swimming pools, sand volleyball court, covered children’s’ play area, covered parking, and beautifully landscaped grounds with gas barbecue facilities throughout.

“The purchase of Midtown on Main is a continuation of our commitment to re-establish a sizable, strategically located multifamily portfolio in Arizona,” said Jay O’Connor, executive vice president of Domain.

Midtown on Main is southeast of the Loop 101 and 202 interchange, and west of Dobson Road. The apartment community is located directly on the Metro Light Rail line that connects Mesa to Tempe, Sky Harbor International Airport, and Metro Phoenix.

“Midtown is an excellent value-add opportunity located in an infill urban area where Tempe and Mesa are starting to merge. One of the major components creating this merge is the recently expanded Metro Light Rail,” said Cindy Cooke.

Economic Forecast

IREM, CCIM announce 9th annual CRE Economic Forecast

IREM and CCIM will present the 9th annual commercial real estate Economic Forecast at the Tempe Center of the Performing Arts on Thursday, Jan. 15, 2015. IREM and CCIM will begin the program by honoring Jerry Colangelo, who will be recognized as the Person of the Year by the organizations.

The panel discussion will be moderated by Peter Bolton of Newmark, Grubb, Knight, Frank. Each panel member will discuss their area of expertise as it relates to the current commercial real estate environment and then predict, based on the metrics of the commercial real estate business, achievements by year’s end.

The program will begin at 8 a.m. and continue until noon. The program will include;
Jerry Colangelo Program Honor

Multi-Family Panel
o    Cindy Cooke – Colliers International
o    Mark Schilling – MEB
o    Tom Lewis – Alliance

Office Panel
o    Jim Fijan – CBRE
o    Chris Toci – Cushman & Wakefield
o    Matt Mooney – Parkway Properties

Retail Panel
o    Judi Butterworth – Velocity Retail
o    Greg Laing – Phoenix Commercial Advisors
o    Pat McGinley – Vestar

Industrial Panel
o    Stein Koss – Lee & Associates
o    Tony Lydon – JLL
o    Mark Singerman – Rockefeller Group

The Tempe Center of the Arts is located at 700 W Rio Salado Parkway, Tempe, Ariz., and more information on the 2015 IREM/CCIM Economic forecast can be found here.

Autumn Ridge apartments

Autumn Ridge apartments sells to out-of-state investors

Colliers International in Greater Phoenix recently completed the sale of the 672-unit Autumn Ridge Apartments, a class-B complex in north Phoenix.

Houston-based Domain Acquisitions LLC in partnership with BH Equities LLC of Des Moines purchased the complex, located at 1944 W. Thunderbird Road, from Summit Autumn Ridge LLC of Los Angeles. Colliers Cooke Team, led by Cindy Cooke, senior executive vice president, and Brad Cooke, vice president, with Colliers International brokered the transaction.

Autumn Ridge Apartments is a 672-unit garden-style community with 73 buildings on 31.04 acres. An infill location with limited land available for new construction, it is adjacent to Cave Creek Golf Course and a large park with lighted walking paths. It is strategically located between the robust Deer Valley employment center and the established North I-17 employment corridor, the second largest employment area in Phoenix.

“The market is just starting the recovery in North Phoenix and we are excited to see the recent momentum in occupancy and rents. Autumn Ridge is a great asset to take advantage of in this market recovery,” said Cindy Cooke.

This purchase marks Domain Acquisitions’ re-entry into the Metro Phoenix market since the organization sold its portfolio here in 2006. “We have been patiently watching the Arizona market for many years, and the state’s economy continues to gain impressive momentum. We are excited to be back as investors in Arizona,” said Domain’s CEO, J.D. Golden.

“With Autumn Ridge, we recognized the solid location, the advantage and financial benefit of a ‘value-add’ approach, and the significant value to replacement cost—all underscored by the improving economic fundamentals in Arizona,” said Jay O’Connor, Domain’s Executive Vice President. Approximately $5 million will be spent in renovating and repositioning the property.

Laura Cathlina and Andy Hill of Berkadia Commercial Mortgage LLC originated $30.9 million in financing for the acquisition and renovation. BH Management Services will provide property management and construction services for the partnership.

The unit mix contained in one- and two-story casitas is 368 one bed/one bath at 680 square feet; 128 two beds/two baths at 816 square feet; 136 two beds/two baths at 910 square feet; 24 three beds/two baths at 1,194 square feet; and 16 three beds/two baths at 1,444 square feet.

“Autumn Ridge has excellent floor plans with washer-dryers in the majority of the units—it is well positioned for the buyer to update the interiors,” said Brad Cooke.

Carleton Club Apartments

Class-B apartment complex sells for $22.25M in Phoenix

Colliers International in Greater Phoenix recently completed the sale of the 436-unit Carleton Club Apartments, a Class B complex in Phoenix, for $22.25 million.

Phoenix-based Bruckal Developments Inc. purchased the complex located at 17425 N. 19th Ave., completed in 1984. The buyer has plans for major renovations in the near future.

Cindy Cooke, senior executive vice president of Colliers International in Greater Phoenix, and Brad Cooke, vice president of Colliers International, served as the brokers for the seller. The Cooke Multifamily Investments team has represented the seller in more than 20 transactions since 2010.

The buyer was self-represented.

“We overcame the challenge of a submarket in the beginning stages of recovery by personally contacting our key relationships and using our extensive databases to strategically seek investors who typically look for value-add properties in recovering markets,” Cindy Cooke said.

The Cooke team has maintained a strong track record of closing 97 percent of their listings over the last 30 years.

San Marin Apartments

Utah investor buys San Marin Apartments

Colliers International in Greater Phoenix recently completed the sale of the 176-unit San Marin Apartments in Tucson.

Chartwell Capital Partners of North Salt Lake, Utah, purchased the complex, located at 5650 S. Park Ave., from Bridge Investment Group Partners of Murray, Utah.

Cindy Cooke, Senior Executive Vice President of Colliers International in Greater Phoenix, and Brad Cooke, Vice President of Colliers International in Greater Phoenix, served as the brokers for the seller. The buyer was self-represented.

The garden-style apartment property, situated on 5.76 acres, was built in 1986 and began renovations in March 2011. Renovations included upgrades to common areas, new equipment for the fitness center, new playground, new barbeque area, exterior paint, landscaping, lighting, signage, pool resurfacing and asphalt repairs. Additionally, approximately 50 units have been upgraded.

“The San Marin Apartments provide a strong investment opportunity by continuing the interior renovation program started by the seller,” Brad Cooke said.

Unit mix is 88 one-bedroom apartments, 56 two-bedroom/one bathroom apartments and 32 two-bedroom/two bathroom apartments.

Summit Ridge, Colliers International

Cooke team sells multifamily portfolio in Tucson for $34.5M

Colliers International in Greater Phoenix recently completed the sale of four Class B multifamily value-add properties in Tucson for $34.65 million for the 1,166-unit portfolio.

Omninet Capital, LLC, of Beverly Hills, Calif., purchased the four properties from Gaines Investment Trust of La Jolla, Calif. The portfolio, Omninet’s first acquisition in Tucson, included:

·       Sedona Springs, 373 N. Wilmot Road

·       Sienna Ridge, 5353 E. 22nd St.

·       Summit Ridge, 1252 S. Craycroft Road

·       Verrano Park, 6850 E. Gold Links Road

Cindy Cooke, senior executive vice president of Colliers International in Greater Phoenix, and Brad Cooke, vice president of Colliers International, served as the brokers for the seller. The buyer was self-represented.

The apartments were constructed between 1973 and 1984.

“We received multiple offers on the portfolio but it was Omninet’s terms that won them the deal.  No other buyers were able to match how fast they could remove contingencies and close on the properties,” Brad Cooke said.

This sale is the largest multifamily portfolio units sold in Tucson since 2010, according to Colliers International, when Cooke Multifamily Investments closed a 2,913-unit portfolio, splitting it between two buyers, setting the previous Tucson record.

The Cooke team’s detailed knowledge of the Tucson market combined with their national connections has been a winning combination for bringing new buyers to the Tucson market.

Alante at the Islands, 2222 N. McQueen Rd., Chandler.

The P.B. Bell Companies buys 2,759 apartment units

The P.B. Bell Companies closed on the purchase of 2,759 apartment units in seven complexes throughout metropolitan Phoenix on Tuesday. The $168.5 million transaction represents the largest in company history and one of the largest sales in the Phoenix multi-family housing market since the economic downturn reset the real estate industry in 2008.

The properties were owned by Standard Fund of Arcadia, California, and include:

·         Alante at the Islands, Crosswinds and Laguna Village, all in Chandler;
·         Tuscany Palms and Whispering Meadows, both in Mesa;
·         Sienna Springs in Central Phoenix; and
·         Tela Verde in Glendale.

R. Chapin Bell, president of The P.B. Bell Companies, said cosmetic upgrades will be made to the properties in the coming months to capitalize on their existing merits and enhance their marketability. Beyond the value-add potential, he said, the acquisition reflects improving fundamentals in the local multifamily housing sector as buyers, sellers and developers respond to ongoing economic recovery. “This is a significant win for our company, and is indicative of the potential we presently see in the metro Phoenix marketplace,” he said. “With apartment vacancy rates hovering at around 5 percent, the rental housing market continues to have a long runway.”

Chief Financial Officer Jeff Thompson noted the importance of the diverse and robust acquisition team that worked extremely well in executing a transaction of this magnitude, and praised each member for his or her contribution. “From our equity partner, mortgage brokers and lender, to our internal and external due diligence and real estate operations people, each professional on the team played a key role in carrying this deal across the finish line,” Thompson said.

Cindy and Brad Cooke of Colliers International in Phoenix brokered the transaction. Equity was provided by Stonecutter Capital Management of New York.  Mortgage broker Seth Grossman, head of Meridian Capital Group’s San Diego, California office; Ryan Gandel, also of Meridian Capital Group; and Prime Finance Partners were also involved in the transaction.

Philip Lake, director of acquisitions, said The P.B. Bell Companies intends to use the transaction as a springboard to acquire more product. “We’ve set an aggressive acquisition strategy for 2014 and beyond, and these seven properties are representative of the velocity of our growth projections,” he said. “We will continue to search out projects that will help us meet our goals.”

Metro Value Add Portfolio, Colliers, WEB

Colliers’ Cooke Team brokers largest multifamily portfolio in Phoenix

The Cooke Multifamily Investments Team at Colliers International in Greater Phoenix completed the sale of a 2,759 unit-multifamily portfolio for $168.5 million. To date, the largest multifamily portfolio closed in Metro Phoenix and it could hold the record for 2014.

The size of this Class A and Class B Value-Add Metro Phoenix Portfolio attracted attention from investors around the world, but it was a local investor that was awarded the deal.  P.B. Bell of Scottsdale partnered with Stonecutter of New York City to purchase the portfolio from Standard Phoenix Fund of Arcadia, Calif.

Cindy Cooke, senior executive vice president of Colliers International, and Brad Cooke, vice president of Colliers International, served as the brokers for the seller. The buyer was self-represented.

“It was P.B. Bell’s in-depth knowledge of the assets and submarkets that helped separate them from the other buyers.  We were impressed with their upfront due diligence and ability to transfer their local knowledge to their New York equity partner.  They executed the transaction smoothly and even removed contingencies a day early,” Cindy Cooke said.

The Cooke Team provided attentive support to buyer and seller to ensure that they felt well informed and cared for.  Delivery of world-class expertise combined with strategic navigation of skills allowed a team approach between all parties for a seamless transaction.

“Having a local company that has been imbedded in the Valley of the Sun since 1976 step up to make their largest acquisition ever shows the strength of the current Phoenix apartment market.  This portfolio of seven properties represented exactly that.  The properties’ strong locations with stable occupancy of 96% set it up for a perfect position for upgrading the interiors and improving the exterior. P.B. Bell intends to use the transaction as a springboard to acquire more product.”  Brad Cooke said.

The Cooke team was hired by Standard Phoenix Fund due to their strong track record of closing portfolios at or above their target prices.  This is the second time the Cooke team has sold these seven assets; the first time as part of a 12-property portfolio in 2007 for $427.5 million, which is still the largest multifamily deal ever in Phoenix.

Five of the properties are located in the highly sought-after Southeast Valley submarket, one is located in the prestigious Camelback Corridor and one is located across from Arizona State University’s West Campus.  The properties:

Alante at the Islands

2222 N. McQueen Road, Chandler

Class A, 320 Units, Built in 1996


868 S. Arizona Ave., Chandler

Class B, 374 Units, Built in 1985

Laguna Village

102 W. Palomino Drive, Chandler

Class B, 460 Units, Built in 1985

Tuscany Palms

901 S. Country Club Drive, Mesa

Class B, 582 Units, Built in 1986

Whispering Meadows

1050 S. Longmore St., Mesa

Class B, 432 Units, Built in 1979

Sienna Springs

5128 N. 15th St., Phoenix

Class B, 395 Units, Built in 1973

Tela Verde

5020 W. Thunderbird Road, Glendale

Class B, 196 Units, Built 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