June 8, 2016
Mentor Properties Inc. struck a deal with California’s Warren Properties to buy Warren House East and Warren House North. Upon closing, The Scottsdale, AZ buyer ended up paying a total of $13.7 million for 425 units.
The 258-unit Warren House East at 2911 E. Indian Rd. was built in two phases in 1970 and 1972. Meanwhile, Warren House North at 6060 N. 7th St. was built in 1966, and has 67 units.
Bill Hahn, Jeff Sherman and Trevor Koskovich with Colliers’ Phoenix office, represented both the seller and buyer. “Both acquisitions provide Mentor Properties the opportunity to take advantage of the rapidly gentrifying areas along East Indian School Road and in the North 7th Street corridor,” Koskovich said.