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
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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.
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