Berkadia Negotiates $75M Sale of Built-to-Rent Community in Flagstaff, Arizona
FLAGSTAFF, ARIZ. — Berkadia has arranged the sale of The Overlook at Buffalo Park, a built-to-rent multifamily property at 1651 N. Gemini Drive in Flagstaff. Georgia-based St. Clair Holdings sold the asset to San Diego-based Logan Capital Advisors for $75 million.
Built in 2021, The Overlook at Buffalo Park features 155 rental homes in a mix of one-, two- and three-bedroom cottage-style designs. The homes feature largely detached floor plans with vaulted ceilings, front porches and stainless steel appliances, including full-size washers and dryers. Community amenities include a clubhouse with porch seating, two pet parks, a dog washing station, fire pits and a fitness center.
Mark Forrester, Ric Holway, Dan Cheyne and Andrew Curtis of Berkadia Phoenix represented the seller in the deal.