Colliers International Brokers Sale of The Park at Deer Valley Apartments in Phoenix for $33 Million
PHOENIX, AZ - Colliers International in Greater Phoenix negotiated the sale of The Park at Deer Valley apartments at 17425 N. 19th Ave., in Phoenix, for $33 million or $75,688 per unit. Executive Vice Presidents Bill Hahn , Jeff Sherman and Trevor Koskovich with Colliers’ Phoenix office represented both the buyer and seller. The seller was Bruckal Properties, Inc., of Kelowna, British Columbia, Canada. The buyer was a private investor, Billah Khan of Phoenix. Financing was arranged through Walker & Dunlop in Phoenix.Khan added The Park at Deer Valley to his portfolio of Phoenix-area assets, which includes Acacia Pointe in Glendale and Marble Creek in Phoenix. Plans call for continuing interior and exterior upgrades started by the seller, who completed more than $3 million in renovations. “This transaction is a prime example of how the combination of off-shore equity and low interest rates create strong financial returns for the buyer,” said Hahn. “Returns will continue to gro