November 17, 2024 1:24 pm
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N.Cal investors make second valley apartment deal…$43 million for 264 units

Sonoran Vista

Business Real Estate Weekly by Rose Law Group

Scottsdale – A company formed by Aukum Management LLC in Larkspur, Calif. (Jason Fuchs, Linton Young, principals) paid $43 million ($162,879 per unit) to acquire the 264-unit Sonoran Vista apartments located at 9340 E. Redfield Road in Scottsdale. The seller was SP Sonoran LLC, a company formed by Security Properties Inc. in Seattle, Wash. (John Orehek, CEO). The deal was brokered through Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE in Phoenix. Maricopa County records show Aukum – Sonoran Vista Investors LLC acquired the Sonoran Vista community with a $33.4 million Fannie Mae loan issued through Wells Fargo Bank. The complex was developed in 1996. Sonoran Vista is the second investment in the Phoenix area for Aukum Management. Continued

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