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1031 Exchange Options Client Investors Acquire Apartment Communities in Arizona for $69 Million.



WALNUT CREEK Walnut Creek, residential city (1990 pop. 60,569), Contra Costa co., W Calif., in the San Francisco Bay area; inc. 1914. It is the trade and shipping center of an extensive agricultural area where walnuts are among the major product. , Calif. -- Cary Losson, Founder and President of 1031 Exchange Options, today announced on behalf of its clients, the successful acquisition of two Arizona luxury apartment communities, for $69 million. 1031 Exchange Options, a national real estate investment consultancy represented individual investors in the Tenancy-in-Common (TIC) / Co-ownership of Real Estate (CORE) properties, many who successfully completed 1031 exchanges with the acquisition of their undivided UNDIVIDED. That which is held by the same title by two or more persons, whether their rights are equal, as to value or quantity, or unequal.
     2. Tenants in common, joint-tenants, and partners, hold an undivided right in their respective properties, until
 fractional interest in the properties.

Courtney Village at Papago Park, located at 4848 E. Roosevelt in Phoenix, Ariz., has 368 units across 397,860-square feet overall. Constructed in 2002, Courtney Village features two swimming pools, spa, volleyball court, fitness center, and a gated entrance. The property was acquired for $33,223,500, net of reserves.

Alanza Place, located in Phoenix at 1121 North 44th Street, was acquired for $36,121,500, net of reserves. The 343,439-square-foot, 360-unit luxury apartment community was constructed in 2002. It features a pool and spa, 24-hour athletic club, clubhouse, recreation room, business center, and conference host center.

"The Greater Phoenix area ranks among the nation's fastest-growing Metropolitan areas," said Christian Mirner, Executive Vice President -- Real Estate for 1031 Exchange Options. "In the last decade, population in Phoenix grew at a rate 350% greater than the national rate, and since 1984 1.3 million square feet of office space has been built. These factors, along with both properties' access to transportation corridors and proximity to major employment centers, make these ideal acquisitions for our client investors."

PASSCO PASSCO Professional Associates and Software Systems Consultants
PASSCO Pakistan Agricultural Storage & Supplies Corporation
 Real Estate Enterprises, Inc. acquired Courtney Village from Courtney at Papago Park, LLC (Logical Link Control) See "LANs" under data link protocol.

LLC - Logical Link Control
 and Alanza Place from TCR TCR

T cell receptor.
 Belleview Holdings Limited Partnership on behalf of the co-ownership group of TIC/CORE investors.

About 1031 Exchange Options

1031 Exchange Options is a national real estate investment consultancy representing clients in investments structured for co-ownership. We advise clients on 1031 exchanges, Tenancy-in-Common (TIC) ownership, triple net leased properties, funds, LLCs, REITs, and other alternative real estate investments. 1031 Exchange Options offers securities through Sigma Financial Corporation, Member NASD NASD

See: National Association of Securities Dealers


NASD

See National Association of Securities Dealers (NASD).
 and SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. .

1031 Exchange Options' national headquarters is located in the San Francisco Bay Area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation).

The San Francisco Bay Area, colloquially known as the Bay Area or The Bay
. The company services clients nationwide. Additional information is available at www.1031ExchangeOptions.com.

While these statements are meant to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements forward-looking statement

A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections.
 represent management's opinion. While management believes such representation to be true and accurate based on the information available to the company, actual results may differ materially from those described.
COPYRIGHT 2005 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Apr 4, 2005
Words:415
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