Park Place at Fountain Hills sells for $63 million

Real Estate | 14 Apr |

CBRE arranged the $63.5 million sale of Park Place at Fountain Hills, a Class A multifamily community located in Fountain Hills, Arizona. 

CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch structured the transaction on behalf of the seller, Real Capital Solutions based in Louisville, Colorado. The buyer was Button Capital Limited, a Hong Kong-based global private equity real estate investment company whose U.S. office is in Scottsdale, Arizona. 

Built in 2018, Park Place at Fountain Hills is a 230-unit Class A community highlighted by two swimming pools surrounded by spacious lounge areas, a well-appointed fitness center and separate spin room, a two-story clubhouse with game room and full kitchen, business center, and package locker system.  Each individual residence has high-end finishes including nine-foot ceilings, stainless steel appliances, wood plank flooring, quartz countertops, full-size washer and dryer, and private balconies. 

“Park Place is the premier apartment community in Fountain Hills. The community’s modern design, walkability and condominium-level interior finishes combined with the best amenities in the submarket generated significant buyer interest,” Gunter said. “Phoenix is a top target market for multifamily investors and this acquisition by Button Capital demonstrates their long-term commitment to the U.S. multifamily market.” 

Rocco Mandala, Anthony Valenzuela, and Dominique Damerell of CBRE Debt & Structured Finance arranged the multifamily debt on behalf of the buyer.

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