Flagstaff Luxury Apartments Sold for $44M

Keller Investment Properties LLC purchased The Lodge apartment community from Clear Sky Lodge LP.

by Evelina Croitoru

The Lodge Apartments
The Lodge Apartments

Flagstaff, Ariz.—Cushman & Wakefield has announced the sale of The Lodge in Flagstaff, Ariz., for $43.6 million. David Fogler and Steven Nicoluzakis, executive managing directors of Cushman & Wakefield’s Phoenix office, represented the seller, Clear Sky Lodge LP, a joint-venture between Phoenix-based Clear Sky Capital and Vancouver-based Narland Properties. Exchange Services represented the buyer, Keller Investment Properties LLC, in the transaction.

The 252-unit luxury apartment community located at 3601 South Lake Mary Road sits on 13 acres of land and was completed in 2004. The class A property offers one-, two- and three- bedroom floor plans. The Lodge also features a clubhouse, business center, fitness center, spa and covered parking, among other amenities. In addition, the newly-acquired property is in close proximity to the I-17/I-40 freeway interchange.

The deal marks the third acquisition for Keller Investment Properties in Flagstaff. “They recognized The Lodge as one of the premier rental communities in Flagstaff and moved quickly once it became available,” Fogler said in prepared remarks.

Photo Courtesy of Cushman & Wakefield