Timberline Village in Flagstaff sold for $22.25M
Timberland Village I & II LLC's (Bassham Trust) sold Timberline Village Apartments at 4255 E. Soliere Ave. in Flagstaff to Clear Sky Summit at Flagstaff LLC (Clear Sky Capital, Marcus Kurschat) for $22.25 million. Vanessa Dreyer joined FirstService Residential, a community management company in Scottsdale as vice president of the Large Scale II Division.
timberline village apartments 0605.jpg_20140530.jpg" />Clear Sky Capital, Marcus Kurschat paid $22.25 million for Timberline Village Apartments in Flagstaff.(Photo: Cassidy Turley)
Story Highlights
- Timberland Village I & II LLC's (Bassham Trust) sold Timberline Village Apartments at 4255 E. Soliere Ave. in Flagstaff to Clear Sky Summit at Flagstaff LLC (Clear Sky Capital, Marcus Kurschat) for $22.25 million.
- Vanessa Dreyer joined FirstService Residential, a community management company in Scottsdale as vice president of the Large Scale II Division.
Timberland Village I & II LLC's(Bassham Trust) sold Timberline Village Apartmentsat 4255 E. Soliere Ave. in Flagstaff to Clear Sky Summit at Flagstaff LLC (Clear Sky Capital, Marcus Kurschat) for $22.25 million. David Foglerand Steven Nicoluzakis of Cassidy Turley represented the buyer. The seller of this 168-unit luxury apartment community adjacent to the golf course at Continental Country Club was self-represented.
Major deals
Howe Group LLCsold Tuscany Pointe Apartments at 14830 N. Black Canyon Highway in Phoenix to The Lodge Complex Tulsa LLCfor $10.1 million. Cliff David and Steve Gebingof Marcus & Millichap in Phoenix represented the seller and advised the buyer of this 236-unit apartment community on 8.3 acres.
Paradise Vista Affordable Apartments LLCof San Diego sold the Paradise Vistaapartments at 7102 N. 43rd Ave. in Glendale to 7102 North 43rd Avenue Partners LLCof Denver for $7 million. Brian Smucklerand Jeff Seamanof CBRE in Phoenix represented both parties in the sale of this 352-unit apartment community.
EQ Downtown LLCof Tempe sold Carol Mary apartments at 501 E. Willetta in Phoenix to Carol Mary LLC of Phoenix for $3 million. Smuckler and Seaman of CBRE in Phoenix represented both the buyer and the seller of this 40-unit multifamily property.
EQ Downtown LLCof Tempe sold Continental Apartments at 1030 N. Third St. in Phoenix to M&S Continental LLC of Phoenix for $2.3 million. Smuckler and Seaman of CBRE in Phoenix represented the buyer and the selller of this 48-unit apartment community.
Promotions and hires
Vanessa Dreyerjoined FirstService Residential, a community management company in Scottsdale as vice president of the Large Scale II Division. She will be responsible for oversight of the high-rise condominiums and several large scale communities. Dreyer has over 14 years experience in the homeowner's association industry, including DC Ranch and Vistancia. She received her degree from Northern Arizona University.
Derek Iannellijoined Transwesternin Phoenix as a financial analyst on the multifamily investment services team. He will provide financial modeling, analytical and consultative services to multifamily clients. Most recently, Iannelli was an assistant property manager at Holland Residential. He also worked at Equity Residential and Michael A. Pollack Real Estate Investments. He received his real estate and business degree from Arizona State University.
Terri Cluffjoined The Goodman Group, a developer and manager of senior living and health care communities headquartered in Minneapolis, as regional director of sales and marketing for the Pacific Coast Region covering Arizona and California. She has over 14 years experience in sales and marketing in the hospitality and health care industires, most recently as regional director of business management at Heartland Home Health, Hospice and Infusion for Southern California. Cluff received her degree in behavioral science, psychology and sociology from Grand Canyon University.
Cullen Mahoneyjoined Trammell Crow Company as an associate in the Phoenix business unit. He will assist in all aspects of the commercial development and acquisition process, including financial analyst, deal sourcing, marketing and due diligence. Cullen received his degree from Loyola Marymount University, and is also a licensed salesperson in the state of Arizona.
The American Subcontractors Association of Arizona Inc. announced its 2014-15 board of directors. Officers are Patricia Thornham, Advance Terrazzo Co., president; Joe LaRovere, Urban Energy Solutions Inc., vice president; Rita Lawrence, L&L Asphalt LLC, secretary; Michael Gatson, Pitman & Murdough PLLC, treasurer; Matt Meaker, Sacks Tierney PA, legal counsel. Directors are Cory Albano, Jeff Byers, Jolene Jones, Donn Kaebisch, John Krhin, Scott Petre and Dennis Tsonis.
Sundt Foundationnamed three new officers and two new members to its board of directors. New officers are Jacque Hoppes, president; Andrew Apostolik, vice president; Dan Haag, corporate board member and executive director. New board members are Allison Rowlandand Lorena Maltos.
Send real-estate news to john.mclean@arizonarepublic.com.
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