Phoenix & Southwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

Phoenix & Southwest  + Arizona  + Texas  + Apartments  | 
Only Built for Rent development sells in Flagstaff for $75 million

Logan Capital Purchases 155-Unit Flagstaff Rental-Home Community

This was Logan Capital Advisors third build-for-rent (BFR) purchase in Arizona since February of 2021. Berkadia completed the $75 million sale of the Overlook at Buffalo on behalf of the seller, St. Clair Holdings. Berkadia’s Mark Forrester is pleased to have been involved in the one-of-a-kind sale, “The Overlook at Buffalo Park commands a dominant site positioning in Flagstaff…moreover, this asset is the only open BFR community in the Flagstaff Metro Area.”

The community features one, two and three “cottage style” single story rentals. The amenities include a clubhouse, fire pits and a fitness center.

The sales price equates to $483,000 per unit. The development is close to Buffalo Park and Northern Arizona University.

Connect

Inside The Story

Mark Forrester

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

  • ◦Sale/Acquisition
Money360-23-cube
New call-to-action