Cushman & Wakefield announced the firm has brokered the sale of Cantamar Apartments, a 180-unit multifamily community in Phoenix, Arizona. Orange County, CA-based SB Real Estate Partners and Los Angeles, CA based Marble Partners acquired the property from Cantamar Apartments Associates LLC for $58.1 million.
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David Fogler and Steven Nicoluzakis with Cushman & Wakefield’s Multifamily Advisory Group in Phoenix represented the seller in the transaction.“While well maintained by the previous owners, Cantamar offered exceptional value-add potential to the new ownership group,” said David Fogler, Executive Managing Director. “The community features large, well-designed floorplans, great on-site amenities, and is located in a highly desirable portion of Phoenix.”Located at 16630 N 43rd Ave, Cantamar is an all two-story community offering one, two and three-bedroom floorplans, 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 options including Arrowhead Mall. There are also several major employers closely accessible.
