CBRE completed the sale of Mirabella and 3800 Lux, two adjacent multifamily communities totaling 715 units.
The two Class A communities are located at 3800 N. El Mirage Rd. in Avondale. The buyer was Priderock Capital Management and the seller, FPA Multifamily, was represented by Sean Cunningham, Tyler Anderson, Asher Gunter and Matt Pesch with CBRE’s Phoenix office.
Developed in 2009 and 2010, Mirabella and 3800 Lux feature a comprehensive set of community amenities including two resort-style swimming pools with spas, state-of-the-art fitness centers, contemporary resident clubhouses with business centers, and a dog park.
The properties include one, two, and three-bedroom residences with nine-foot ceilings with decorative crown molding, well-appointed kitchens with breakfast bars, walk-in closets, and private patios/ balconies.
The seller, FPA Multifamily, is a private equity real estate firm focused on the acquisition, renovation and management of both core plus and work force housing apartment communities.