November 22, 2024 7:38 am
Facebook Twitter Youtube Instagram Linkedin
Rose Law Group

Security Properties venture pays $30 million to buy 388-unit apartment complex in Mesa

Sonora Canyon

Business Real Estate Weekly by Rose Law Group

Sonora CanyonMesa – Sonora Canyon Venture LLC, a company formed by Security Properties Inc. in Seattle, Wash. (John Orehek, CEO), paid $30 million ($77,320 per unit) to buy the 388-unit Sonora Canyon apartments located at 265 N. Gilbert Road in Mesa. The seller was LSREF2 Oreo (Direct) LLC, a company formed by Lone Star Funds in Dallas, Tex. (John Grayken, chairman). The deal was brokered through Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE in Phoenix. Maricopa County records show the buyer acquired the Mesa property with a $24.999 million loan issued by Prudential Mortgage Capital Co. LLC in Arlington, Va. Security Properties purchased Sonora Canyon in a venture with Aetna Health and Life Insurance Co. in Hartford, Ct. In July 2013, BREW reported the Lone Star Funds entity paying $30 million ($77,320 per unit) to buy Sonora Canyon. The complex was built in 1985. Continued

View Larger Map

Share this!

Additional Articles
News Categories

Get Involved

Stay Informed

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

learn more

Recent Articles

PRTA suspends operations

(Disclosure: Rose Law Group represents a coalition of property and business owners throughout Pinal County who have worked to bring new transportation infrastructure to the

Read More »

Post Calendar

Rose-Law-Group-RCF-Logo-FINAL-LG-png.png
Facebook Twitter Youtube Instagram Linkedin
© 2024 Rose Law Group Reporter

Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.