DTZ, 
a global leader in commercial real estate services, has announced that Clear Sky Vintage LP (Clear Sky Capital, Marcus Kurschat, principal) purchased The Vintage, a 106-unit apartment community at 1303 West Juniper Avenue in Gilbert, for $14.25 million ($134,434 per unit).
The seller was Vintage Gilbert LLC (Matt and Sam Blank, Darryl Berger, Rustin Randal, principals).
DTZ Executive Managing Directors David Fogler and Steven Nicoluzakis represented Clear Sky Capital during the transaction.
“This was an excellent opportunity for the buyer to acquire a solid asset built in 2000, in a great location, with the ability to unlock value through a light renovation,” said Mr. Nicoluzakis.
The Vintage was built in 2000 and was slated for a condominium conversion prior to being purchased by the seller through a trustee sale in 2013. The complex features large studio loft, one-, two-, and three-bedroom units averaging over 1,150 square-feet, with attached and detached garages, a clubhouse with fitness and business centers, swimming pool and spa and gated entrance.
