Location was one of the biggest factors in the recent $64.5 million acquisition of Village at Aspen Place, a 222-unit class-A mixed-use community. The asset is located within Aspen Place at the Sawmill, Flagstaff’s lifestyle center.
An entity formed by Orange County-based NNC Apartment Ventures LLC acquired the Village at Aspen Place. The seller was an entity formed by Kansas City, MO-based VanTrust Real Estate LLC.
David Fogler and Steven Nicoluzakis with Cushman & Wakefield’s multifamily advisory group in Phoenix represented the seller in the transaction.
“The buyer was attracted by the opportunity to acquire one of the finest apartment communities in the Flagstaff submarket,” said Fogler. “Surrounding the property, Aspen Place at the Sawmill features some of the finest shopping, restaurants and service businesses Flagstaff has to offer.”
Village at Aspen Place was completed in 2015 and features a mix of studio, one-bedroom and two-bedroom floor plans. Its location at 601 East Piccadilly Dr. is near shopping, dining and entertainment venues as well as Flagstaff’s historic downtown area and Northern Arizona University.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.