GLENDALE, AZ-Colliers International in Greater Phoenix has negotiated the sale of the 260-unit Northern Terrace Apartments, located at 5220 W. Northern Ave. in Glendale, Ariz., for $9.1 million, or $35,000 per unit.
Scottsdale-based Sonoma Terrace Properties LLC, a partnership between Jay Chernikoff and Cal DeSouza, acquired Northern Terrace Apartments with a loan from Mutual of Omaha Bank.
The seller was Northern Terrace Apartments LLC of Pewaukee, Wis., a real estate investment firm. Bill Hahn, Jeffrey Sherman and Trevor Koskovich of Colliers' HSK Multifamily team represented both parties.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
