Entities formed by investor Richard Trull of Anthem, Ariz. acquired 44-units in two Phoenix properties for $6.8 million. The sellers in the two transactions were companies formed by investors Brandon and Darrin Nunns of Phoenix. The Braun Apartment Group of Lee & Associates Arizona, made up of Todd Braun, Ryan Boyle and Bryson Fricke, represented both the buyer and the seller.
In the larger sale, Bell Villas 28 Apartments LLC, managed by Trull, paid $4.4 million for the 28-unit Bell Villas 28 apartments at 17402 N. 19th Avenue. The seller was Bell Villas 28 LLC in Phoenix, of which the Nunns are members.
In the other sale, Siesta 16 Apartments LLC, managed by Trull, paid $2.4 million for the16-unit Siesta 16 apartments at 2525 E. Siesta Lane. The seller was Siesta 16 LLC, of which the Nunns are members. The apartment, located near Union Hills Drive and Cave Creek Road, was developed by the seller in 2015.