Todd Braun

Comments: PHOENIX, ARIZ.  –  Lee & Associates Arizona brokered the sale of Connect on Union in Phoenix for 16.5 million. Lee & Associates Principal Todd Braun represented the seller, Union Hills Equity LLC, and the buyer, Western Wealth Capital, was assisted by Ric Holway of Berkadia Real Estate Advisors. Located at 2311 E. Union Hills Drive, the 146-unit, two-story apartment complex built in 1985 boasts a strong location and proximity to large employment generators such as: Paradise Valley Community College, American Express, Mayo Clinic and Deer Valley Airport. The property also provides a value-add opportunity through unit interior upgrades while providing the purchaser a stable and improving operational track record. “The Connect on Union apartments offering received significant investor interest due to the chance to acquire a well-located asset with a value add opportunity,” said Braun. “Of the offers received, the seller selected the Western Wealth Capital offer because they have a very strong reputation as being a buying entity that is a proven performer and has arguably been the largest buyer of non-institutional grade multifamily properties in Arizona during the last two years.” For more information on the property, visit www.leearizona.com, or contact Braun at (602) 474-9550.

Date: Jul 16, 2018

Comments: Entities formed by investor Richard Trull of Anthem, Ariz. acquired 44-units in two Phoenix properties for $6.8 million. The sellers in the two transactions were companies formed by investors Brandon and Darrin Nunns of Phoenix. The Braun Apartment Group of Lee & Associates Arizona, made up of Todd Braun, Ryan Boyle and Bryson Fricke, represented both the buyer and the seller. In the larger sale, Bell Villas 28 Apartments LLC, managed by Trull, paid $4.4 million for the 28-unit Bell Villas 28 apartments at 17402 N. 19th Avenue. The seller was Bell Villas 28 LLC in Phoenix, of which the Nunns are members. In the other sale, Siesta 16 Apartments LLC, managed by Trull, paid $2.4 million for the16-unit Siesta 16 apartments at 2525 E. Siesta Lane. The seller was Siesta 16 LLC, of which the Nunns are members. The apartment, located near Union Hills Drive and Cave Creek Road, was developed by the seller in 2015.

Date: Nov 16, 2017

Comments: Lee & Associates Arizona announced today that the Braun Apartment Group arranged the $21.3 million sale of Biltmore Pointe in Phoenix to Portland’s Bean Investment Real Estate (BIRE). The 302-unit property is located at 2802 E. Osborn Rd. The Braun Apartment Group represented the seller, Biltmore Pointe Apartments, LLC., of Los Angeles. “This acquisition offered the buyer an excellent value-add opportunity due to the property’s strong location,” said Todd Braun, principal. “[BIRE] intends to inject significant capital into the multi-family community with interior and exterior upgrades. I expect this to be a very different property in 12 to 18 months.” Biltmore Pointe was built in 1959, was added to in 1972, and sits on 10.5-acres. The development features a mix of studios, and one and two bedrooms. The units are situated in 28 rental buildings and average 800-square-feet.  Biltmore Pointe was approximately 65 percent leased at the time of sale. The Braun Apartment Group is comprised of Todd Braun, principal; Bryson Fricke, associate; and Ryan Boyle, multi-family property specialist.

Date: Nov 02, 2017