Cushman & Wakefield announced that Michigan-based Winfield Apartments of Scottsdale, LLC (Farhad Shokoohi, Principal) purchased The Winfield of Scottsdale, located at 8021 East Osborn Road in Scottsdale, Arizona, for $18.3 million/$192,632 per unit, from Scottsdale-based Winfield Apartments, LLC (Tanner Bickelhaupt, Principal).
Built in 1969 and located in Old Town Scottsdale, The Winfield of Scottsdale is a fully renovated 95-unit premier apartment complex. The property offers one- and two-bedroom apartments, with four unique floor plans, featuring midcentury modern architecture, private patios and state-of-the-art kitchen with stainless steel appliances and Caesar stone countertops. Community amenities include a resort-style swimming pool, fitness center, dog park, grilling stations and proximity to dining, shopping and entertainment.
David Fogler and Steven Nicoluzakis of Cushman & Wakefield represented the buyer in the transaction. Nicoluzakis stated, “This well-positioned asset is an excellent fit in the buyer’s current multifamily portfolio. Given the unique and renovated nature of the property, it will prove to be a durable asset for years to come.”