Commercial real estate deals make news. But the people behind the deals? Those people who help facilitate, initiate, broker, manage and/or deliver those deals? That’s just some straight-up, news release material:
Northmarq Phoenix’s Investment Sales team of Trevor Koskovich, Bill Hahn, Jesse Hudson, and Ryan Boyle brokered the $33.65 million sale ($221,382/unit) of Paseo Del Sol, 6280 South Campbell Ave. in Tucson, Arizona. The team represented the seller, AndMark Management Company of Los Angeles. The buyer was Element Property Company, LLC of Los Angeles. Northmarq Phoenix’s Debt & Equity team of Griffin Martin, Brandon Harrington, Bryan Mummaw and Tyler Woodard financed the acquisition with a $27.2 bridge loan.
Built in 1994, Paseo Del Sol has 38, two-story buildings, which include a charming, equal split (76 each) three-bedroom, two bathroom and four-bedroom, two-bathroom units that range in size from 1,050 to 1,150 square feet. The community amenities include a pool, clubhouse and … wait for it … ample, covered parking.
“Paseo Del Sol was a value-add opportunity for Element to come in and strategically reposition the asset with renovations that will allow them to gain substantial revenue growth,” added Jesse Hudson, Senior Vice President, Investment Sales, Northmarq.