Tom and Lori Sutton, under the buying entity of Paseo Verde Apartments LLC, found that their ability to quickly close on the transaction was the key to taking the 4444 N. 7th Ave. property off the hands of seller Archon Group, a Goldman Sachs company based in Irving, TX. The buyer's broker, Karl Abert of Marcus & Millichap's Phoenix office, tells GlobeSt.com that "the seller did a background check on all the buyers and their reputation as a fast closer was the best."
The deal gave the new owners a class C property near Seventh Ave and Campbell Street with only 10 vacancies and good upside potential, Abert adds. The seller's broker was David Fogler of Grubb & Ellis Co.
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