ColRich adds to multi-family assets…adds $49 million for 360 apartments ($136,111 per unit)

ColRich

Business Real Estate Weekly by Rose Law Group

Phoenix – A company formed by ColRich in San Diego, Calif. (Danny Gabriel, principal) paid $49 million ($136,111 per unit) to buy the 360-unit Verano Townhomes at 13820 S. 44th Street in Phoenix. The seller was CREF Windsor LLC, a company formed by Cornerstone Real Estate Advisors LLC in Santa Monica, Calif. The sale was brokered by Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE in Phoenix. Maricopa County records show CR Verano Communities LLC (ColRich entity) acquired the townhomes on 44th Street with a $10.19 million down payment and a $39.2 million Fannie Mae loan issued by CBRE Multifamily Capital Inc. Continued

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