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PHOENIX-S-J Management LLC has $113.8 million resting on theacquisition of two more multifamily complexes in the GreaterPhoenix metro. The Seattle-based buyer says the simultaneouslyworked deals, both scheduled to close in late spring, are just thebeginning of this year's push in the region.

S-J Management CEO Michael Sauter says the first deals of theyear will be the $33-million purchase of the 272-unit San VenturaApartments at 3600 W. Ray Rd. in Chandler and $80.8-millionacquisition of the 629-unit Canyons at 19940 N. 23rd Ave. inPhoenix. Though the two complexes will enter S-J's portfolio atapproximately the same time, he tells GlobeSt.com that they arebeing acquired for different goals, with San Ventura being a one-to three-year hold. "The two-story configuration of the propertylends itself well to conversion, which is a potential exit strategyfor us," he explains. "We'll either convert it ourselves or flip itto a converter."