CBRE sells Aldea at Estrella Falls for $53.14M

Real Estate | 8 Feb |

CBRE has completed the sale of Aldea at Estrella Falls, a 328-unit Class A multifamily property, located at 2400 N. Bullard Ave. in Goodyear, Arizona. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE Multifamily Institutional Properties in Phoenix represented the seller, Seattle-based PrivatePortfolio Group. The buyer was Eugene, Oregon-based Umbrella Properties.

“Aldea at Estrella Falls has an attractive low-density site plan featuring excellent amenities and large floor plans, suitable for value-add improvements. The community’s location in the Palm Valley master plan provides a long-term competitive advantage,” said CBRE’s Cunningham.

Developed in 2008 by Trammell Crow Residential, the garden-style community offers large one-, two- and three-bedroom floor plans averaging 991 square feet. Individual residences feature well-appointed kitchens with granite countertops and stainless-steel appliances, walk-in closets, full-size washers/dryers and wood plank vinyl flooring. Community amenities include a resort-style swimming pool and spa, stainless steel barbecue grills, fitness center and resident clubhouse with a business center.

Aldea at Estrella Falls is located in the Palm Valley master-planned community with access to top-rated schools, golf courses, parks and recreation centers. Diverse retail and dining options are located within the master plan and along McDowell Road and Pebble Creek Parkway. Luke Air Force Base, the Southwest Valley’s largest employer, is located directly north of the community.

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