(To read more on the multifamily market, click here.)

PHOENIX-A private investor from California has invested in hissecond multifamily property in the metro area, the 428-unit HuntersRidge. He also has assumed the four-year balance on a loan with a7% interest rate.

In his second area multifamily property purchase within a month,Tom Fair of Bronco Real Estate Corp. in San Rafael, CA has acquiredthe 428-unit Hunters Ridge complex at 8903 N. 19th Ave. fromDallas-based DP Partners for $16.35 million. Cindy Cooke and BretZinn with Colliers International Inc.'s Phoenix office representedthe investor while the seller was self-represented.

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