The property is particularly appealing to renters because it boasts two-level living and large units for the monthly fee, John Kobierowski of Hendricks & Partners in Phoenix tells GlobeSt.com. He brokered the deal for sellers, Gerald R., Leslie C. and Sally J. Moretti of Kentfield, CA. Cal State Real Estate Investments of Palos Verdes, CA used in-house representation for the negotiations.
Kobierowski says the sellers were looking for just the right buyer for their property, acquired in 1994. "It was a real strong price and the seller was happy in the end," he adds.
The closing was a long time in coming because Cal State Real Estate was putting together a special partnership for the acquisition, according to Kobierowski. The lender search during the partnership structuring presented some difficulties, but was overcome in time for a late December 2001 closing on the complex situated at the intersection of 3318 N. 18th Ave. and 1820 W. Mulberry Dr.
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