NorthMarq sells Cinnabarr Apartments in Phoenix for $53.5M

Real Estate | 17 Dec, 2020 |

NorthMarq’s Phoenix investment sales team of Trevor Koskovich, president, Bill Hahn, executive vice president and Jesse Hudson, vice president brokered the sale of the Cinnabarr Apartments on December 10th, 2020. The 430-unit multifamily property is located at 4141 West Glendale Avenue in Phoenix, Arizona. NorthMarq represented both the buyer, Tides Equities, LLC and the seller, JK Residential Services, Inc.  

“Cinnabarr is one of 16 transactions and 3,338 units sold by NorthMarq’s Phoenix Investment sales team in quarter four alone,” says Koskovich. “The multifamily asset class preserves a strong performance through an otherwise uncertain year with an optimistic trajectory ahead.”

Tides Equities plans to reposition the asset with their standard interior and exterior renovations. They have already renamed the property as Tides at East Glendale.

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