02.14.2018
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02.14.2018
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Press Releases
CHICAGO, Ill. (February 14, 2018) - Perkins Coie represented Optima, Inc., a vertically-integrated, luxury residential development firm providing development, architecture, design, construction, sales, and property management services, in its sale of Optima Sonoran Village, a complex of modern luxury apartments in Scottsdale, Arizona for $210.4 million to Principal Real Estate Investors, a global real estate management firm and an affiliate of Principal Life Insurance Company.
In addition to the sale, the transaction included the reinvestment by Optima in Optima Sonoran Village through a joint venture with Principal Real Estate Investors, and the development by Optima - on behalf of the joint venture - of a 176 unit multi-family residential project on the last remaining development parcel in Optima Sonoran Village.
Led by Perkins Coie Chicago partner Daniel Marre, the Perkins Coie team included a core group of attorneys consisting of Chicago partners Phillip Gordon and Alexandra Cole, Phoenix senior counsel Mala Clancey, Phoenix associate Sean Berens, Phoenix partner Ron Lowe, and Phoenix paralegal Karina Canedy. Also making invaluable contributions to the transaction were Chicago partners Jaclyn McNally and Richard Peterson, and Chicago associate Neva Wagner.
Please click here to read the Optima press release.
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