March 16, 2018
Paul Ash Management Company, LLC is pleased to announce the $19,500,000 / $62,500 Per Unit sale of the Rio Santa Fe Apartments located in Yuma, Arizona. Rio Santa Fe Apartments is a 312-unit garden-style apartment community developed in 1992 and located in Yuma, AZ.
“Rio Santa Fe Apartments is located near I-8/SR-95 interchange, which connects the area to San Diego and Phoenix,” states Alon Shnitzer, Senior Managing Partner at ABI, who along with Rue Bax and Eddie Chang were the lead brokers for this transaction. “The property is the 2nd largest, by number of units, in the city of Yuma and was well maintained and operated by the selling entity for the duration of their 20+ year hold.”
The Buyer is a private multifamily investor based in Arizona.
The Seller, 2000 Yuma Apartment Properties, LP is a partnership formed by Paul Ash Management Company.
The multifamily brokerage team of Eddie Chang, Alon Shnitzer, Rue Bax, John Kobierowski and Doug Lazovick represented both the Buyer and Seller in this transaction.
Remembering Paul Ash – Maccabiah Record Holder
Longtime Arizona Daily Star sports editor Abe Chanin* dubbed Paul Ash* the “strongest Jew in the world” and helped him raise some of the money he needed to go the Maccabiah Games in Israel in 1957.
A military veteran and avid card player, Paul Ash raised the rest of the funds by winning card games as he criss-crossed the United States on the military transport flights that got him to New York in time to catch his flight to Israel. He won the first of his two gold medals that year in the sport of weightlifting, breaking all records in the 198-lb class. He competed and won the gold medal again in 1961.