Next Wave Investors LLC has paid $58 million, or $362,500/unit, for Willow Creek, a 160-unit apartment property in Prescott, Ariz. The San Clemente, Calif., investor purchased the property, at 3147 Willow Creek Road, from an affiliate of Cole Johnson, a ...
97 percent occupied.
The purchase was funded in part with a $23 million Fannie Mae loan that was written by Hunt Mortgage Group. The loan has a 12-year term and requires only interest payments for the first nine years. After that, it amortizes ...
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