Cushman & Wakefield announced that the company has negotiated the sale of Cantamar Apartments, a 180-unit multi-family community in Phoenix, Arizona. Orange County, Calif.-based SB Real Estate Partners and Los Angeles, Calif.-based Marble Partners acquired the property from Cantamar Apartments Associates LLC for $58.1 million.
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David Fogler and Steven Nicoluzakis of the Cushman & Wakefield Multifamily Advisory Group in Phoenix represented the seller in the transaction.
“While well maintained by previous owners, Cantamar offered exceptional value potential to the new group of owners,” said David Fogler, Executive Managing Director. “The community features large, well-designed floor plans, great on-site amenities, and is located in a very desirable part of Phoenix.”
Located at 16630 N 43rd Ave, Cantamar is a two-story community offering one-, two-, and three-bedroom floor plans, with air conditioning, 9-foot ceilings, patio/balconies, walk-in closets, and pet-friendly units. On-site amenities include a resort-inspired pool/hot tub, clubhouse, and fitness center.
The location is convenient to the 101 and I-17 freeways as well as shopping, dining, recreation and entertainment including the Arrowhead Mall. There are also several large employers nearby.