You are here:  Home  >  Business Real Estate Weekly  >  Current Article

San Diego based investor makes first valley buy…drops $48 Million for 582 apartments

Posted by   /  September 15, 2014  /  No Comments

    Print       Email

Sierra RanchBy Business Real Estate Weekly

Phoenix – Phoenix Uprising LLC, a company formed by investor Donald Dougher, II of San Diego, Calif., paid $48 million ($82,474 per unit) to acquire the 582-unit Sierra Ranch apartment complex located at 4722 E. Bell Road in Phoenix. The seller was FSC Saddleback Associates LLC, a company formed by FSC Realty Inc. in Beverly Hills, Calif. (Stanley Fimberg, Albert Baril, principals). Maricopa County records show the buyer acquired the project with a $26.5 million down payment and a $21.5 million loan from Voya Insurance and Annuity Co. Financing was arranged by Charlie Williams of Berkadia Commercial Mortgage LLC in Scottsdale. The investment is the first in the Valley for the San Diego-based investor. Based on limited information available on the internet, Dougher appears to be a low key, private investor.

    Print       Email

Leave a Reply

You might also like...

News from Neighboring States for May 7, 2018: Stanco Metal Products President Jerry Slagel says base steel prices have jumped more than 40 percent since President Donald Trump’s administration slapped tariffs on steel and aluminum imports.

Read More →