LVA Properties LLC, based in Bountiful, UT and headed by Scott Keller, purchased the Ponderosa Park Apartments, a 120-unit complex at 1201 E. Ponderosa Pkwy. Flagstaff, home to Northern Arizona University, is about 100 miles north of Phoenix in the White Mountains. The city has a population of approximately 50,000.
The price equates to more than $45,000 per unit.
Santa Barbara, CA-based Flagstaff Peaks Venture Limited Partnership, which has owned the property for about five years, sold the property.
The Phoenix office of Marcus & Millichap, with broker Doug Fielding, represented the principals in the transaction.
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