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West Coast Investor Pursues $2M Multifamily Deal

TEMPE, AZ-A year after his first offer, a Seattle investor finally gets the Blue Haven Apartments, putting $1.5 million on the table for the deed. The changed attitude comes from a seller who can now do a 1031 Exchange.

By Jennifer D. Duell | Updated on October 12, 2004

TEMPE, AZ-After more than a year of trying to buy Blue Haven Apartments, an investor from Seattle has finally won the prize for $1.5 million. The seller, Karin Hakanson of Phoenix, is trading out of the asset in a 1031 Exchange.

“We made an offer a year ago, but Karin wasn’t interested,” explains Jackie Allen of Coldwell Banker Commercial Metro who represented Alan Chutich. “The difference is that she can now do a 1031 Exchange.” Hakanson was represented by Howard Berger of Phoenix-based Berger Investments.

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