Corriente Condominiums
Condominiums – Solds
Scottsdale, AZ
Number of Units: 48
Acquisition Date: August 2009
Acquired with Aderra in August 2009 from AmTrust, CCS bought the note secured by Corriente and finalized foreclosure proceedings in January 2010. The acquisition consisted of 21 completed units and finished lots for 120 additional units. After selling through the completed units in the pre-existing three buildings, CCS rolled through the development of the five remaining 24-unit condo buildings using a phased, pre-sales-driven approach in various entities. All buildings are completed and CCS is nearly sold out of the project.
