Commercial real estate companies Hamick Asset Management, BluSky Equity Partners and Vista Laguna Asset Management announce joint acquisition of Cornell Apartments in Phoenix

PHOENIX, 21 October 2021 / PRNewswire / – Commercial real estate companies Hamick Asset Management, BluSky Equity Partners and Vista Laguna Asset Management Announce Joint Acquisition of Cornell Apartments in Phoenix, Arizona.

The teams are led by Tim hamick at Hamick Asset Management, Greg Boucher at BluSky Equity Partners, and Marc Lenning at Vista Laguna Asset Management.

Investment managers commented: “We are very happy to add Cornell to our Arizona portfolio and are encouraged and excited by the strong economic growth of MSA Phoenix, driven by population growth, employment growth and the unparalleled quality of life residents enjoy there. “

“With a new limited supply in this part of town,” they continued, “we have the opportunity to make this a highly desirable retro-boutique asset that is perfect for young professionals with families heading to. nearby employment centers. ”

Cornell is a 51 unit mid-century apartment complex, originally built in 1968 and renovated in 2006-08 and 2019-21. It is located in north central Phoenix, just two blocks from the Phoenix Light Rail on 19th Avenue. This makes it a short drive or streetcar ride to the main Midtown employment centers and Downtown phoenix and the Camelback Corridor, which collectively house nearly 200,000 jobs. The original 48 units were expanded by building three additional units during the property renovations, bringing the property to 51 units.

Cornell residents have access to a modern and attractive swimming pool; grassy and shady courtyards; and covered parking; as well as the security of the property fence, code access gates, lighting and camera system. Some units also have a private patio or balcony. Interior amenities include granite counters, under-mounted sinks, stainless steel appliances, and built-in washers / dryers. The unit mix of mostly two- and three-bedroom units is appealing to families, and three-bedroom units are rare in the submarket. The average unit size of 1,064 square feet is also considerably larger than the region’s average.

This is the 28th asset in several markets to be added to the collective portfolio of Hamick Asset Management, BluSky Equity Partners and Vista Laguna Asset Management. Together, this team owns and operates over 1,000 multi-family units valued at over $ 93 million in Arizona, Texas and Michigan, and is uniquely positioned to lead the optimization and growth of this property.

The new ownership group intends to further improve by Cornell pool and courtyard areas, additional beautification and rebranding, construction of additional private patios, selected interior improvements and construction of two more units, expanding the property to 53 units. They contract with CAM Properties for professional property management services.

About Hamick Asset Management

Hamick Asset Management LLC, founded in 2016 by Tim hamick, is a real estate investment company specializing in the purchase and investment in multi-family and multi-tenant real estate assets. Targeted geographic areas for potential asset purchases include Dallas Fort Worth, Houston, Austin, San Antonio and other markets across Texas, Colorado, Arizona, Florida and Michigan. Learn more at www.hamick.co.

About BluSky Equity Partners

BluSky Equity Partners was founded by husband and wife team Tina and Greg Boucher. Their company’s goal is to make commercial real estate investing accessible to ordinary people, with a focus on military and veterans, to help them grow their wealth with confidence and live their lives the way they want. . To date, BluSky Equity Partners has acquired more than $ 85 million in multi-family real estate in Arizona and Texas in partnership with other general partners. Learn more on https://BluSky-equity.com

About Vista Laguna Asset Management

Vista Laguna Asset Management, founded by Marc Lenning, locates, acquires and manages underperforming multi-family rental assets in high performing markets across the United States, generating value in their investments and superior returns for their investors. They are currently focusing on several Texas markets, Denver, and Phoenix and Tucson, Arizona.

Contact:
Greg Boucher
BluSky Equity Partners, LLC
[email protected]
760-672-9539

SOURCE BluSky Equity Partners, LLC

Related links

https://BluSky-equity.com


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