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JUST SOLD: California Investor Snags $50+ Million Mesa Multifamily Asset

Phoenix, Ariz. – Argenta, a 396-unit apartment community at 4104 E. Broadway Rd. in Mesa, has been sold to a California investor for $50,275,000.00. The development offered opportunity for future value appreciation with extensive renovation and modernization.

Argenta was sold by Millburn Company of Salt Lake City. The buyer was 29th Street Management III, based in San Francisco. Cindy Cooke and Brad Cooke of Colliers International in Greater Phoenix handle the sale transaction.

“We were honored to be involved in the disposition of Argenta for Millburn Company. They did a great job stabilizing and positioning Argenta for the next buyer. 29th Street Capital’s strong local knowledge made them the perfect buyer to take Argenta to the next level.”

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Just Sold: The Terraces at Glassford Hill apartments in Prescott Valley

PHOENIX, ARIZ.  –  The Terraces at Glassford Hill apartments in Prescott Valley have been sold to California-based Virtú Investments for $47,350,000 which is $209,530 per unit.

“The Terraces is irreplaceable with it’s unique location positioned on top of Glassford Hill.  The fantastic views overlooking Prescott Valley combined with Class A quality design provides consistently high occupancy coupled with strong rents.  Virtú took the time to truly understand this dynamic asset and submarket,” said Brad Cooke, executive vice president with Colliers International in Greater Phoenix.

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Colliers International’s Cooke Multifamily Team Completes Sale Of Apartment Portfolio In Tucson

Tucson, March 1, 2017 – A portfolio of four multifamily communities in Tucson has been sold to a NY based Real Estate Firm, DASMEN Residential, LLC, signaling more strength for the area’s investment market. The properties, which were built between 1974 and 1980, provide the buyer great cash flow with an opportunity to renovate the properties as the Tucson market continues to trend upward.

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Colliers International’s Cooke Multifamily Team Completes Sale of Two Apartment Communities in Mesa

Phoenix, February 9, 2017 – Colliers International in Greater Phoenix has completed the sale of a multifamily portfolio comprised of Argenta Apartments and Verona Apartments in the growing East Valley submarket.

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Colliers Cooke Team Negotiates Sale of Tucson Area Apartment Portfolio

Phoenix, August 30, 2016 — Colliers International in Greater Phoenix has negotiated the sale of a portfolio containing five apartment communities in Tucson. The properties were the first Arizona acquisition for a Colorado-based investment group. Hamilton Zanze of San Francisco sold the portfolio to Monarch Investment & Management Group, LLC of Franktown,

“This portfolio was a great investment due to the strong cash flow and overall condition of the properties,” says Cindy Cooke, senior executive vice president with Colliers International in Greater Phoenix. “The economic recovery in Tucson follows the Phoenix economy. Phoenix has realized incredible appreciation in the recent years, so Tucson investors are well positioned to benefit from similar trends.”

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Colliers Cooke Team Completes The Sale Of 226-Unit – The Terraces Apartments in Prescott Valley, AZ

Phoenix, August 26, 2016 – Colliers International in Greater Phoenix has negotiated the sale of The Terraces at Glassford Hill apartments at 5700 E. Market St. in Prescott Valley, AZ. “This remarkable asset is situated on Glassford Hill giving the tenants picturesque views of Prescott. The unique location and the quality of the apartment community created a highly desirable community among renters and investors,” says Cindy Cooke, senior executive vice president with Colliers International in Greater Phoenix. “The population in the area grew 68% from 2010-2013 and Money Magazine recognized Prescott as one of the “Best Places to Live.”

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Colliers Cooke Team Completes The Sale Of 194-Unit – Commons at Sawmill Apartments in Flagstaff, Arizona

Phoenix, August 24, 2016 – Colliers International in Greater Phoenix negotiated the sale of The Commons at Sawmill. The 194-unit asset is located at 901 S. O’Leary St. in Flagstaff, Ariz. The Commons at Sawmill is located within walking distance of Northern Arizona University (NAU) in the heart of Flagstaff. The property services are privately owned student housing community.

“Commons at Sawmill is consistently 100% occupied with a waiting list – due to its superior location adjacent to the NAU main campus and NAU’s new state-of-the-art athletic recreational complex. Increasing its desirability is the short walking distance to downtown Flagstaff where dining, entertainment and a great nightlife also attract residents. Students love this location and the property,” said Cindy Cooke.

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Colliers Cooke Team Completes The Sale Of 197 Unit – The Arbors Apartments in Tempe, Arizona

Phoenix, August 25, 2016 – Colliers International of Greater Phoenix has negotiated the $21.3 million sale of The Arbors at 5th Apartments located at 805 W. Brown St. in Tempe, AZ. The community was purchased by a private investor based out of Vancouver, Canada.

“The Arbors at 5th offered the buyer a great value-add opportunity in the heart of the Valley’s most dynamic marketplace, Tempe. The property is within walking distance of the historic Mill Avenue District and the Tempe Town Lake Beach Park,” says Cindy Cooke of Colliers International. “Downtown Tempe has captured the attention of the nation with its strong employment growth coupled with its urban high-quality lifestyle. The Arbors at 5th provides a Class A location with the ability to add value by renovating the interior of the units.”

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COLLIERS INTERNATIONAL’S COOKE MULTIFAMILY TEAM
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    Phoenix, AZ 85016
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  • Brad Cooke, Senior Vice President
    brad.cooke@colliers.com
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