Search
 

California Investor Shells Out $16M for Multifamily Asset

PHOENIX-Tom Fair of Bronco Real Estate Corp. in San Rafael, CA pockets his second deed in a month in the metro, paying $16.35 million for the 428-unit Hunters Ridge. To close the deal, he assumes a loan with a four-year balance and 7% interest rate.

By Amy Wolff Sorter | Updated on September 19, 2005

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

PHOENIX-A private investor from California has invested in his second multifamily property in the metro area, the 428-unit Hunters Ridge. He also has assumed the four-year balance on a loan with a 7% interest rate.

In his second area multifamily property purchase within a month, Tom Fair of Bronco Real Estate Corp. in San Rafael, CA has acquired the 428-unit Hunters Ridge complex at 8903 N. 19th Ave. from Dallas-based DP Partners for $16.35 million. Cindy Cooke and Bret Zinn with Colliers International Inc.’s Phoenix office represented the investor while the seller was self-represented.

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.