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Phoenix— Resmark Apartment Living has partnered with Westfield and Greystar to develop Deer Valley , a 344- residence apartment community in Desert Ridge, Ariz. “Desert Ridge, the master planned community where Deer Valley is located, truly represents the best of Phoenix, and the Deer Valley site is right in the midst of all it has to offer,” Ziv Cohen, Resmark Apartment Living ’s COO, tells MHN . “Great partnerships are one of Resmark’s key building blocks and an indelible part of our business. Our joint venture with Greystar and Westfield on this investment is consistent with that philosophy.” The almost 15 acre site is located at the northeast corner of East Deer Valley Road , west of north 56th street . The new project will be adjacent to major employers including the Mayo Clinic Hospital , Desert Ridge Marketplace and the JW Marriott Resort . Also nearby is the Scottsdale Airpark, home to approximately 50,000 employees and 2,600 companies, including national or regional hea...

The Sierra Ridge Apartments , a 180-unit complex, in Clovis has sold to a local investor for $18.3 million. The seller was Sun Valley Pacific (Clovis) LLC of Tokyo, Japan, according to Berkadia, a commercial real estate company with an office in Fresno. Robin Kane, senior vice president , and Gordon Larkin, senior associates, negotiated the sale in February. The apartment complex was built in 1991 at 100 Fowler Avenue, just south of Tollhouse Road. The development has one-, two-, and three- bedroom floor plans with full kitchens, fireplaces, vaulted ceilings, washer and dryer hookups and garages. Community areas include a swimming pool, spa, fitness center, playground and controlled-access gates. “The multifamily market,” Kane said “is surging right now in California, which we believe will continue for the remainder of 2015.”