Colliers International in Greater Phoenix negotiated the sale of Silver Cliffs Apartment Homes at 1570 Paseo Grande in Bullhead City, Arizona, for $8.95 million or $55,590 per unit.Colliers International’s executive Vice Presidents Bill Hahn, Jeff Sherman and Trevor Koskovich represented both the seller and buyer. The seller was Thompson Corporation of Brookfield, Wisconsin.The buyer was Walika Properties of Van Nuys, California, a private investment company specializing in multifamily and commercial properties. This represents their first acquisition in this market.“This transaction is evidence of higher yields that can be attained in smaller markets,” said Koskovich. “Silver Cliffs offered a well-positioned asset with positive cash flow, competitive market rents and a high occupancy of 98 percent. Walika Properties acquired the asset in the completion of a 1031 tax-deferred exchange, with new financing arranged through Bank of The West.”Silver Cliffs is a 161-unit apartment community built in 1993, consisting of 118,400 square feet in six two- and three-story buildings on approximately 4.86 acres. The property offers 106 one-bedroom and 55 two-bedroom units with full-size washers and dryers, dishwashers, large walk-in closets, patio or balcony and storage areas. Common amenities include reserved covered parking plus additional open parking, heated swimming pool, 24-hour fitness center, basic cable and 24-hour maintenance.Silver Cliffs is conveniently located north of Silver Creek Road, a major thoroughfare, and two miles from SR-95, which connects north to Nevada, south to California and to other major highways. The community is in proximity to K-12 schools, Mohave Community College, shopping centers, grocery stores and two parks.Situated on the east side of the Colorado River near the junction of Arizona, California and Nevada, Bullhead City is one of Arizona’s fastest growing communities. As the sister city to Laughlin, Nevada, and just 90 minutes from Las Vegas, tourism is a primary economic driver centered on the resort and gaming industry. To the south is the Fort Mojave Indian Tribe’s casinos and recreational facilities. The Colorado River and Lake Mead National Recreation Area offer visitors and residents year-round recreation.
For the five-year follow up, structured psychiatric interviews were conducted for 68 of the original participants with bipolar disorder – 37 being lost to follow up – and 81 control group members. Among those in the bipolar group, 23 no longer met criteria for the disorder, 36 still were experience active symptoms and 9 had symptoms that did not meet full criteria. During the five years since the original study, more members of the bipolar group developed new cases of substance use disorder than did controls, leading to an overall incidence rate of 49 percent versus 26 percent.While controlling for the presence of other disorders – including attention-deficit hyperactivity disorder (ADHD) or conduct disorder – did not affect the bipolar-associated risk in the original study, the new analysis found that controlling for conduct disorder caused the increased levels of substance use disorder to disappear. That result suggests that co-occurring conduct disorder plays a significant role in the risk associated with bipolar disorder.“We were surprised to find that conduct disorder, but not ADHD, played such a large role in mediating the increased risk of substance use disorder among those with bipolar disorder,” says Wilens, who is an associate professor of Psychiatry at Harvard Medical School. “While this might be result of having only a few participants with bipolar disorder alone, it may be that it is the presence of conduct disorder that drives substance use disorder as adolescents with bipolar disorder become young adults. Since symptoms of bipolar disorder usually appear before substance use disorder develops, clinicians following youth with bipolar disorder should carefully monitor for cigarette smoking and substance use, along with treating bipolar symptoms.”Wilens and his colleagues are also analyzing a subgroup of study participants who received detailed brain imaging in an effort to understand the brain circuitry involved in these disorders and their interaction. They also plan to investigate factors underlying the persistence of bipolar disorder and the impact of treatment on the incidence of smoking and substance use disorder. Share on Facebook Share on Twitter Pinterest LinkedIn Share Email A follow up to a previous study finding an association between adolescent bipolar disorder and the incidence of cigarette smoking and substance use disorder finds that risk was even greater five years later, particularly among those with persistent bipolar symptoms. The report from a team of Massachusetts General Hospital (MGH) investigators, published in the Journal of Clinical Psychiatry, also finds evidence that the presence of conduct disorder, in combination with bipolar disorder, may be the strongest influence on the risk of smoking and substance use disorder.“We also made another interesting finding – that those originally diagnosed with bipolar disorder who continued to have symptoms five years later were at an even higher risk for cigarette smoking and substance use disorder than those whose symptoms were reduced either because of remission from bipolar disorder or from treatment,” says Timothy Wilens, MD, chief of Child and Adolescent Psychiatry at Mass. General Hospital for Children and co-director of the MGH Center for Addiction Medicine, who led both studies. “Both those with active symptoms and those whose symptoms had improved were at greater risk than our control group.The original study, published in the June 2008 issue of Drug and Alcohol Dependence, analyzed extensive data – including family histories, information from primary care physicians and the results of structured psychiatric interviews – on 105 early adolescents diagnosed with bipolar disorder and a control group of 98 with no mood disorders. Among those participants, with an average age of 14, the rate of substance use disorder among those with bipolar disorder was 34 percent, while it was only 4 percent in controls. The risk for smoking was 22 percent for those with bipolar disorder and 4 percent for controls.