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COLRICH ACQUIRES SCOTTSDALE APARTMENTS FOR $23 MILLION ($122,340 PER UNIT)




Scottsdale - A company formed by ColRich in San Diego, Calif. (Danny Gabriel, principal) paid $23 million ($122,340 per unit) to purchase the 188-unit Chazal Scottsdale apartments located at 1075 N. Miller Road in Scottsdale. The seller was NP Chazal Scottsdale Apartments Inc., a pension fund advised by AEW Capital Management L.P. in Boston, Mass.

From BREW

Scottsdale - A company formed by Jerry Simms, owner of the Turf Paradise horse track in Phoenix, paid $44.5 million ($277.73 per foot) to buy a 160,228-square-foot shopping center at the northeast corner of Scottsdale Road and Shea Boulevard in Scottsdale. The seller was Karlin Scottsdale Shea LLC, a company formed by Karlin Real Estate in Los Angeles, Calif. (David Cohen, Matthew Schwab, co-founders).