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The Lodge Apartments Sell for $31.8M

FLAGSTAFF—Clear Sky Lodge LP (Clear Sky Capital, Marcus Kurschat) purchased The Lodge Apartments, a 252-unit class A luxury apartment community built in 2004 from The Lodge Luxury Apartments, LLC (Bassham Family Trust) for $31.8 million ($126,389/unit).

By Kristian Seemeyer | Updated on June 03, 2014

FLAGSTAFF—Clear Sky Lodge LP (Clear Sky Capital, Marcus Kurschat) purchased The Lodge Apartments, a 252-unit class A luxury apartment community built in 2004 from The Lodge Luxury Apartments, LLC (Bassham Family Trust) for $31.8 million ($126,389/unit). Cassidy Turley executive managing directors David Fogler and Steven Nicoluzakis negotiated the transaction.

The Lodge Apartments is the third Flagstaff multi-family property that Clear Sky has purchased in 2014. It purchased Timberline Place in January and Timberline Village in May. Fogler and. Nicoluzakis negotiated both of the previous transactions. Clear Sky also purchased a multifamily property in Prescott this year.

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