November 22, 2024 7:31 am
Facebook Twitter Youtube Instagram Linkedin
Rose Law Group

Scottsdale apartment community sold for $31M

Scottsdale apt

By Business RScottsdale apteal Estate Weekly

A joint venture formed by ColRich in San Diego, Calif. (Danny Gabriel, principal) and Harbert Management Corp. in Birmingham, Ala. (Raymond Harbert, principal) paid $31 million ($93,373 per unit) to buy The Cortesian, a 332-unit apartment community located at 7749 E. Camelback Road in Scottsdale.

The seller was Camelback Cortesian LLC, a company formed by El Dorado Holdings Inc. in Phoenix (Mike Ingram, chairman). The deal was negotiated by Mark Forrester andRic Holway of Berkadia in Phoenix.

Maricopa County records show CH Cortesian Communities LLC (ColRich/Harbert venture) acquired the apartment property with a $7.79 + million down payment, by assuming a $12.657 million Freddie Mac loan owed to the registered holders of Deutsche Mortgage & Asset Receiving Corp. Multifamily Mortgage Pass-Through Certificates Series 2011-K11 and with $10.55 million in supplemental financing issued through Centerline Mortgage Partners Inc.

Continued: 

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.