Aventerra at Dobson Ranch Apartments sell for $38.425M

Vizzda – The Aventerra at Dobson Ranch Apartments sold Tuesday for $38.425m or $66,710 per unit to Bridge Investment Group Partners. The ownership group of Joseph Rosen & Michael Thom, doing business as Summit Equities Investments, had acquired these apartments in a bank sale on November 1, 2011 for $29.1m or $50,520 per unit, financed in part by an Freddie Mac multifamily loan of $22.388m. Bridge Investment Group Partners are assuming this loan and have taken on a second Freddie Mac loan in the amount of $5.5m. Joseph Rosen, president of Summit Equities Investments, and Danuel Stranger, chief investment officer of Bridge Investment Group Partners, closed the deal.