Condominiums – Sold

Tempe, AZ

Number of Units: 104

In August 2009, CCS acquired the remaining 64 units (of 104 total) at Bridgeview at Hayden Ferry Lakeside at $154 per square foot (a 65% discount to cost). The project is a high-end 12-story condo tower located on Tempe Town Lake in Tempe, AZ. The developer, SunCor Development Company, completed construction in 2008, and sold 40 units at an average price of $986,000 ($566 PSF), but was unable to sell all the units as the market deteriorated. CCS closed quickly with all cash, immediately implemented a sales program, and has since closed out of the project with an average sales price of approximately $285 per square foot.