November 5, 2024 9:40 am
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$5M+ Deals – $50.2M in Multi Family sales

Below are the deals closed Wednesday, January 15, 2015, in Maricopa County over $5 million according to the Maricopa County Recorder. The Rose Law Group Reporter has not independently verified these transactions.

$42.5M ($145,548/unit) sale of the 292 unit Trillium Cave Creek apartment complex at the SWC of E. Beardsley Road and N. Cave Creek Road (20050 N Cave Creek Rd.) in Phoenix by Cave Creek & Beardsley LLC, a Trillium Residential entity. The buyer was a pair of entities formed by TM equities Inc. based in Salt Lake City, Utah. Development of the almost 14 acre property was completed in 2008.

To view affidavit, click here.

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$7.725M ($27,589/unit) sale of the 280 unit Fountain Ridge Apartments just west of N. 19th Avenue on W. Indian School Road (2025 W. Indian School Road in Phoenix by Fountain Ridge Apartments LLP, an entity formed by Mentor Properties Inc. According to the BREW, Mentor purchased this property in 2010 for $3.15M ($11,250/unit).

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© 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.