JLB Partners Purchases ±9.7 Acres in Scottsdale for Luxury Apartments

Cassidy Turley BRE Commercial Negotiates Sale of Former Portales Place Site

Published on March 08, 2012


PHOENIX  – JLB Partners of Dallas purchased ±9.7 acres in Scottsdale, between Highland Avenue and Chaparral Road, just north of Scottsdale Fashion Square. Executive Vice Presidents David Fogler, Steven Nicoluzakis and Don Arones with Cassidy Turley BRE Commercial, a leading commercial real estate services provider in the U.S., executed the sale transaction on behalf of their client, ML Manager (Mark Winkleman). The sales price for the property was $13.87 million ($32.66PFS; $37,398.37 per unit).  JLB Partners (Bay Miltenberger, Managing Partner, Dallas and Kevin Ransil, Development Partner, Scottsdale) plans to build a 369-unit luxury apartment community on the former Portales Place property.

JLB Partners is a national developer, builder and manager of Class A multi-family assets. For more information www.jlbpartners.com.

David Fogler and Steven Nicoluzakis are part Cassidy Turley BRE Commercial’s Multi-Family Group and Don Arones is part of Cassidy Turley BRE Commercial’s Office Group.  For more information visit www.ctmultihousing.com or call 602.954.9000.

About Cassidy Turley

Cassidy Turley is a leading commercial real estate services provider with more than 3,400 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions.  The firm completed transactions valued at $18 billion in 2010, manages 455 million square feet on behalf of private, institutional and corporate clients and supports more than 25,000 domestic corporate services locations. Cassidy Turley serves owners, investors and occupiers with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. In 2010, the firm enhanced its global service delivery outside of North America through its partnership with GVA. Please visit http://www.cassidyturley.com for more information about Cassidy Turley.

Cassidy Turley provides regional real estate services in Phoenix through Cassidy Turley BRE Commercial.   The company offers brokerage investment and advisory services in office, industrial, retail, multi-family, land and property management.  The firm was ranked No. 1 in the Commercial Real Estate Brokers list of the Phoenix Business Journal’s 2010 and 2012 Book of Lists.

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Alison Melnychenko

(602)224.4459                                                                                                    

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