$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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