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6/03/14
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Clear Sky Capital recently purchased The Lodge Apartments, a 252-unit, Class A apartment complex in Flagstaff, AZ. The asset was acquired from The Lodge Luxury Apartments, LLC (Bassham Family Trust) for $31.85 mil ($126k/unit).
Built in 2004, The Lodge Apartments is located at 3601 South Lake Mary Rd, east of I-17. The complex includes one-, two- and three-bedroom units. The community includes a clubhouse with 24-hour fitness center, a billiards lounge, business center, shared barbeque area and children’s playground.
The Lodge Apartments is the third Flagstaff multi-family property that Clear Sky has purchased so far in 2014. The company purchased Timberline Place in January and Timberline Village in May.
Cassidy Turley Executive Managing Directors David Fogler and Steven Nicoluzakis represented the buyer in the transaction. The duo also repped Clear Sky in its two other 2014 acquisitions.
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