Phoenix – A company formed by B.H. Properties in Los Angeles, Calif. (Arsalan “Steve” Gozini, member) paid $9.6 million ($33,566 per unit) to buy the 286-unit Madera Court apartments at 8135 N. 35th Avenue in Phoenix. The sellers were entities formed by Fannie Mae (Federal National Mortgage Association) in Washington, D.C. and The Related Cos. in New York City, N.Y. (Stephen Ross, chairman). The sale was brokered by Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE in Phoenix. B.H. Properties now owns 1,667 apartment units in six Valley properties. The privately-held company has a vast portfolio of multi-family, retail, office and industrial projects located throughout the U.S. B.H. Properties is looking to acquire additional apartments in the Phoenix area, as well as retail projects. B.H. Properties wants to own 2,500 apartments in the Valley. In the recent purchase, records show B.H. Madera Court LLC (Gozini’s company) paid cash to acquire Madera Court. The sellers were CAM Madera Court LLC (Fannie Mae – 75 percent interest) and Related Madera Court LLC (The Related Cos. – 25 percent interest). Continue reading
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