CBRE negotiated the sale of the 240-unit multifamily community Enclave at Arrowhead to a private family buyer for $63 million.
CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter, Matt Pesch, and Mark McFate of Phoenix Multifamily Institutional Properties represented the seller, R&V Management and Wermers Properties.
Built in 2006, Enclave at Arrowhead amenities include a fully equipped fitness center, leasing center, swimming pool area and resident clubhouse. Approximately half of the units are town home-style with direct-access garages, and the average unit size is 1,033 square feet, one of the largest in the market.
“R&V Management completed transformational upgrades to the amenities that added tremendous value and positioned the community to better compete in the market,” said Cunningham. “Enclave at Arrowhead’s quality upgrades, further upside potential and advantageous location attracted significant interest.”
Located at 8092 W. Paradise Lane in Peoria, Enclave at Arrowhead is within the P83 Entertainment District adjacent to Arrowhead Towne Center. Residents can walk to over 2.4 million square feet of retail and entertainment amenities including the spring training facilities for Major League Baseball’s San Diego Padres and Seattle Mariners.
About CBRE Group, Inc. CBRE Group, Inc., a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide.
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