Search
 

Seattle Investor Wins Bidding War With $19.7M

PHOENIX-Olympic Investors outbids 14 others for the 274-unit Las Brisas apartments, a 94%-occupied complex in Phoenix's prestigious North Central Corridor. Built in 1992, the complex had location and quality as its selling points.

By Beverly Ford | Updated on January 07, 2003

PHOENIX-A 274-unit luxury apartment complex drew the interest of 15 bidders, but it was Olympic Investors LLC that finally won out to take over ownership of the property with a $19.7-million offer.

For their money, the Seattle based LLC got the Las Brisas apartments, a 94%-occupied class A complex at 8011 N. 7th St. in Phoenix’s prestigious North Central Corridor.”You just can’t find this kind of quality property on the market right now,” Bert Kempfert with of CB Richard Ellis Inc.’s Phoenix office, tells GlobeSt.com. “It has solid intrinsics and a great location. It’s unique.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.