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Wednesday, 26 June 2019

Acacia Capital Buys Scottsdale, Ariz., Apartments for $67Mln

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Acacia Capital Corp. has bought the 264-unit Sonoran Vista apartment community in the Phoenix suburb of Scottsdale, Ariz., for $67 million, or $253,787/unit.

The San Mateo, Calif., investment firm purchased the complex, at 9340 East Redfield Road, from Aukum Group, which had acquired it in 2014 for $43 million.

The property serves as collateral for a $33.4 million loan that's securitized through FNA 2015-M1. The loan has a fixed rate of 4.06 percent and is locked out from prepayment until March 2024.

Sonoran Vista has...

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Additional Info

  • Syndicate to Realpoint: No
  • Cities: Scottsdale
  • States: Arizona
  • Sector: Multifamily
  • Subject: Property Acquisitions (ACQ)
  • Deal Name: FNA, 2015-M1
  • Valuation: Between $50 million and $100 million
  • Private: Yes
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Dan Moynihan

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