Investment Manager Formed by Ken Cruse Buys Ariz. Apartments
Alpha Wave Investors has paid $10.55 million, or $95,910/unit, for Orange Tree Village, a 110-unit apartment property in the Casas Adobe area of Tucson, Ariz. The San Clemente, Calif., investment manager was formed by a team led by Kenneth E. Cruse, the former chief executive of Sunstone Hotel Investors Inc., who left the Aliso Viejo,…