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Northern California Investor's $17M Wins Race for Class A Complex

PHOENIX-A limited liability company from Oakland, CA crosses the finish line ahead of seven others with the $16.7-million offer for the 170-unit Ventura Vista, setting up a $2.4-million profit for a two-year hold by the Seattle-based seller.

By Jennifer D. Duell | Updated on June 03, 2005

(To read more on the multifamily market, click here.)

PHOENIX-An investment group from the Bay Area has acquired Ventura Vista, a 170-unit, class A complex just south of Loop 101, for $16.7 million. An affiliate of Seattle-based S-J Management LLC is the seller, closing out a two-year hold with a profit.

Ventura Cave Creek LLC of Oakland, CA was one of eight investors vying for the deed to 18660 N. Cave Creek Rd., Bob Bruno, an investment broker with Phoenix-based Hendricks & Partners, tells GlobeSt.com. “This was an A building in an A location. It’s condo-conversion quality,” says Bruno, who partnered with Mark Forrester to broker the sale.

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