TUCSON, AZ—ColliersInternational in Greater Phoenix recentlycompleted the sale of four class B multifamily value-add propertiesin Tucson for $34.65 million for the 1,166-unitportfolio.
Omninet Capital, LLC, of Beverly Hills, CA,purchased the four properties from Gaines InvestmentTrust of La Jolla, CA. Cindy Cooke,senior executive vice president of Colliers International inGreater Phoenix, and Brad Cooke, vice president ofColliers International, served as the brokers for the seller. Thebuyer was self-represented. The apartments were constructed between1973 and 1984.
“We received multiple offers on the portfolio but it wasOmninet's terms that won them the deal. No other buyers wereable to match how fast they could remove contingencies and close onthe properties,” Brad Cooke said.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
