Phoenix's Canyons on Colter Apartments Trades Hands

The a California-based buyer acquired the property for $34 million and secured a $27 million acquisition loan.

By Kelsi Maree Borland | July 11, 2019 at 04:00 AM

A California-based entity formed by Next Round Asset Management has acquired the Canyons on Colter Apartments in Phoenix for $34 million from Arroyo Vista Partners LLC. The buyer also secured $27.4 million in acquisition financing to purchase the property.

Canyons on Colter Apartments is a 304-unit apartment complex with one-, two- and three-bedroom units.

The NorthMarq Phoenix investment sales team of Trevor Koskovich, Bill Hahn, and Jesse Hudson represented both the seller and the buyer in this transaction.

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Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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