New Closing of Sonoma Valley Apartments in Apache Junction, AZ
August 26, 2022
Proud to announce FSO Capital Partners largest acquisition to date with the closing of Sonoma Valley Apartments in Apache Junction, AZ for $44,500,000, $250,000 per unit and $250/sf. This 176 property was built in 2001 and is comprised entirely of two and three bedroom units.
We assumed an existing Fannie Mae loan with a 2.87% interest rate, 49% LTV, almost 3 years of interest only payments left and raised $24.8mm in equity.
Recent Posts
Jeff Sherman, Principal at FSO Capital Partners, shared insights into his multifamily investment approach and market perspectives. With 16 years of experience in the Phoenix market, he transitioned from brokering to acquisitions in 2020, focusing on low-income housing tax credit assets for their long-term value. Jeff emphasized the importance of organic growth through strong partnerships and leveraging technology for efficiency in multifamily operations. Looking ahead, he anticipates market recovery and new opportunities in distressed assets by late 2025. Highlighting mentorship’s role, he advocates for nurturing talent in the apprenticeship-driven real estate industry. FSO operates with a small, focused team, valuing adaptability to market conditions.
FSO Principal, Jeff Sherman, shares invaluable strategies on how to boost NOI in multifamily properties on the premiere episode of the Stage Debate Podcast with Cost Seg Isaac. Tune in to hear creative property management approaches and gain insightful perspectives on the current market.
