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Colliers sells award winning Tempranillo Apartments for over $20 million

Southern California buyer acquires luxury community in Clovis, Calif

Phoenix, April 29, 2021 – Tempranillo Apartment Homes, a Class A luxury community at 2445 E. Copper Avenue in Clovis, California, sold for $20,342,500, or $317,851 per unit. The 64-unit community, located in the Copper River area of Clovis, was developed by The Schussing Company, with Rubik Built being the builder. The property was purchased by Southern California investor Sun Pacific Properties, LLC.

“This project was awarded 2019 New Development of the Year when it was built and offers this investor a terrific opportunity to own a very high quality community within a dynamically growing city of Clovis,” says Brad Cooke with the national multifamily sales team of Colliers. Brad Cooke, Chris Roach, Matt Roach and John Smeck, based in Phoenix, worked in conjunction with Jack Messina and Shane Richardson of Colliers’ Central California multifamily sales team in handling the sale transaction.

The San Clemente-based buyer purchased the property from Tempranillo, LLC of Modesto, CA.  The property was 100 percent leased at closing.

“We love this asset. It’s beautiful, fully occupied and in an ideal location. We think it fits nicely into our multifamily strategy,” said Randall Wood, VP Acquisitions, Sun Pacific Properties.

Tempranillo Apartment Homes was constructed in 2019, and features thoughtfully appointed units with well-tailored amenities in a lush living environment. The community features one-, two, and three-bedroom units, averaging 1,194 square feet in size. The 64-unit complex sits on 4.23 acres of land and totals 76,432 square feet of space.

The Mediterranean-style community offers a stunning outdoor entertainment area, a BBQ courtyard, fire pit and shaded patio dining. The community also features a 24-hour fitness center, with children’s play area, resort-style pool with on-site showers and luxurious lounge area. The units provide condo quality design and features, such as private patios and balconies, walk-in closets, quartz counter tops and stainless steel appliances.

Tempranillo Apartment Homes is situated within the highly desirable Clovis Unified School District, close to Fresno State University and the abundance of shopping and restaurants of nearby Fresno. The property is adjacent to Copper River Ranch Master Planned Community—part of the highly-anticipated 700-acre Copper River Ranch Master Planned Lifestyle Community.  That project is slated to include 250,000 square feet of commercial retail and mid-rise offices, where the average home value is estimated to exceed $850,000.

About Colliers International
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers and LinkedIn.

Colliers in Arizona has served clients locally and globally for more than 40 years.

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Brad Cooke

Executive Vice President

Phoenix

As an executive vice president with Colliers, Brad Cooke is a senior member of the Cooke Multifamily Team, one of the top full-service multifamily investment teams in the nation, serving clients across multiple states and markets. Team members include Cindy Cooke, Chris Roach, Matt Roach, Teresa Lowery, Ron Cameron, Thomas Brophy, Eric Blair, Nicholas Solo, Alice Bean, Aimee Healy and Kellyanne Kennedy.

Multifamily asset types served by the team include luxury, core, value add, high-rise, new development, student and workforce housing, and land.

Working closely with clients, Brad helps determine and refine their objectives and guide them in successfully buying or selling a property or portfolio, while also growing their business. He provides critical market data and analysis to enable clients to quickly capitalize on emerging opportunities and realize optimal property value.

Brad has established lasting business relationships for the team with leading local, national and international companies through a dedicated and personal approach that ensures client expectations are not only met, but surpassed. He is involved at every stage of the transaction and oversees underwriting and due diligence to facilitate a smooth and timely closing process.

His ability to strategize, coupled with extensive industry knowledge, produces exceptional results for clients, as evidenced by the team’s 100% closing ratio and high degree of repeat business and referrals.

The Cooke Multifamily Team has established core values that set the team apart from the competition and are the foundation of every deal they do. The team provides exceptional value through product, process and, most importantly, relationships.

The team acts with integrity and is respectful, supportive and kind. They treat each deal as if it was their own investment and dive deep into the data to make sure clients make fully informed decisions. The team is constantly refining its craft to ensure they provide exceptional service at every turn of the deal. They work hard, are proactive, are intentional, and get the job done

In 2006, Brad joined Colliers as vice president with the Cooke Multifamily Team, finding his passion and focus in the multifamily sector. He has played a strategic part in making the team a national leader in multifamily investments.

Brad’s background includes serving as designated broker/owner of Interlock Realty, a residential real estate firm, and as the leasing agent for over 1 million square feet of industrial space. His real estate career began in 2002, as an office leasing agent, and has since been exposed to all areas and facets of the real estate industry.

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Chris Roach

Vice President

Phoenix

Chris Roach is a vice president with Colliers and member of the Cooke Multifamily Team—one of the top multifamily teams in the nation. The team includes Cindy Cooke, Brad Cooke, Matt Roach, Teresa Lowery, Ron Cameron, Thomas Brophy, Eric Blair, Nicholas Solo, Alice Bean, Aimee Healy and Kellyanne Kennedy.

The Cooke Multifamily Team focuses on institutional and private equity assets, ranging from core plus to workforce housing across the United States.

Chris has emerged as a proven leader within the multifamily market, with clients that include institutional, private equity and individual investors. His in-depth understanding of both investment sales and capital markets enables him to complete complex transactions, while ensuring a smooth process for all parties. His experience includes market rate and affordable housing, bulk condominium sales, mixed-use, new construction, land and complex value-add transactions.

Clients and colleagues find Chris to be diligent, persistent, knowledgeable, trustworthy and responsive. His proven track record of success within an ever-changing marketplace has allowed him to forge deep client relationships while continually achieving superior results.

Chris joined Colliers in 2018, with extensive experience in sales, marketing and entrepreneurship. His background in both business and sports gave him exceptional skills in sales, analysis and negotiations. Previously, Chris joined ORION Investment Real Estate in Phoenix in 2014, where he was a senior vice president of multifamily investment sales.

An early source for Chris's drive and determination was his successful college career playing Division 1 baseball.

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Matt Roach

Vice President

Phoenix

Matt Roach is a vice president with Colliers and member of the Cooke Multifamily Team—one of the top multifamily teams in the nation. The team includes Cindy Cooke, Brad Cooke, Chris Roach, Teresa Lowery, Ron Cameron, Thomas Brophy, Eric Blair, Nicholas Solo, Alice Bean, Aimee Healy and Kellyanne Kennedy.

The Cooke Multifamily Team focuses on institutional and private equity assets, ranging from core plus to workforce housing across the United States.

Matt's analytical nature and tenacity make him a valuable member of the team. He is well-versed in financial modeling, forecasting and strategic positioning of multifamily assets. He maintains a keen pulse on the market through macro and microeconomic drivers that can affect individual property activity.

Matt serves as a trusted advisor to clients through his methodical and detail-oriented approach, enabling him to understand and advance his clients’ interests. Described as dedicated, hard-working and trustworthy by clients and colleagues, he prides himself on being available, accessible and responsive.

Prior to joining Colliers, Matt was a vice president of multifamily investment sales with ORION Investment Real Estate in Phoenix. His background also includes equity research, previously working at D.A. Davidson and MKM Partners, both middle-market investment banks, where he focused on providing industry-leading research, data and financial modeling for institutional clients, including Fortress, Citadel, BlackRock, T. Rowe Price and Fidelity.

Matt and his wife Mariah currently reside in Phoenix. He is active with his church and supports various nonprofit organizations, including Arizona Foster Care and Colliers AZ Cares charitable foundation. In his free time, Matt enjoys traveling, hiking, photography and fishing,

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Jack Messina

Senior Vice President & Principal | Central California

Fresno

Jack began his career with Colliers International | Central California in 1992 as a retail commercial real estate specialist and has consistently proven to be a driven achiever. Jack has completed retail  lease and sale transactions exceeding 5 million square feet and $750,000,000. Jack’s goal is simple: provide strategic consultation and transaction services thus affording his clients the ability to make the very best real estate decisions.

He brings a diverse, well rounded background in commercial real estate; from development, investments, financing and construction, Jack’s unique perspective to the brokerage business and the ability to customize solutions for each client’s specific needs. His un-paralleled commitment to his clients, diverse background, attention to detail and his passion for the real estate business have earned him long-term relationships with leaders in the retail development communities as well as national and regional tenants.

Among others Jack represents Office Depot and Rite Aid throughout the San Joaquin Valley and the Central Coast of California.

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Shane Richardson

Associate

Fresno

Prior to joining Colliers International in 2018, Shane spent 11 years in the commercial roofing and metal building component industries. After starting as a field estimator, he served his last 7 years  as the Central and Southern California Territory Manager.  His responsiveness and progressive thinking are major factors in his ability to foster long lasting business relationships. 

In his first year with Colliers International, Shane has been involved in multifamily sales, retail leasing and sales, land sales and office leasing listings and/or transactions.  While his primary focus is multifamily investements, Shane's clients have engaged him for representation in additional,  unrelated, transactions.  His ability to adapt and learn quickly has enabled him to excel in multiple specialties.  

In his spare time, Shane enjoys spending time with his family, snowboarding, playing ultimate frsibee, traveling and bbq'ing for friends and family.

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John Smeck

Senior Vice President

Phoenix

As senior vice president of Colliers Mortgage Advisory Services, John Smeck is responsible for building and managing the debt and equity platform in Arizona and assisting with the build-out of the platform in the West. Working with owners and buyers of commercial real estate, John determines the optimal capital structure for an asset and scrutinize capital markets on behalf of clients to obtain the best possible execution for the debt and/or equity needed.

Having provided debt and equity for well over $2 billion in commercial transactions, clients rely on John to: (a) develop the optimal capital structure for commercial real estate assets, (b) locate the most competitive debt and/or sources for that structure, and (c) negotiate the best terms and structure for the transaction.

As a trusted advisor, he provides capital solutions tailored to the unique requirements and financial objectives of each client. His expertise includes underwriting and valuation of multifamily, industrial, self-storage, office, medical office, retail, senior housing, hotel and mixed-use properties.

Clients benefit from John's 30+ years of experience in commercial real estate investment, financial analysis and capital markets advisory services and from my numerous institutional investor relationships.

Previously he was a principal and the managing member of the Arizona operation of Johnson Capital, a national commercial mortgage banking firm and both approved FHA MAP lender and FMAC Seller/Servicer. John led the Arizona office in sourcing, underwriting, closing and servicing debt and equity placement transactions for commercial real estate assets on behalf of institutional investors and owners of multifamily, retail, office, industrial and hospitality properties. Production exceeded $2 billion in total capitalization.

Prior to forming Johnson Capital in Arizona, John established and managed the Phoenix regional office of the Texas-based Robert C. Wilson Company for 13 years, servicing the debt and equity needs of large national clients, including Trammel Crow Company, and representing institutional investors, such as State Farm Life.

John also served as vice president and group manager in commercial real estate for InterFirst Bank, Houston, N.A., a member bank of the largest bank holding company in Texas

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