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| John Cunningham |
PHOENIX, AZ – In a sign that Phoenix multifamily assets
are still in high demand, capital markets experts in the Phoenix office of JLL
have completed the $15,046,909 sale of 90 units at Aderra Condominium Residences, near the intersection of Tatum
Boulevard and Cactus Road in Phoenix.
The entire Aderra project
is comprised of 312 condominiums on eight acres. This 90-unit portion consists
of one- and two-bedroom condominiums averaging 1,032 square feet.
JLL Executive Vice
President John Cunningham and Senior
Vice President Charles Steele
represented the property seller, Real Capital Solutions. The property buyer was
Pathfinder Partners.
“These 90 units are a
great opportunity for an investor to acquire and build value in an improving
housing market, within one of metro Phoenix’s most affluent suburbs – while
also enjoying the benefit of strong in-place cash flow,” said Cunningham.
Built in 2008, Aderra
Condominium Residences is located at 11640 N. Tatum Blvd. in Phoenix, 1.5 miles
from State Route 51. Aderra fronts the Stone Creek Golf Course and offers more
than 3.35 million square feet of retail shopping—including the 1.5 million-square-foot
Paradise Valley Mall—within one mile of the property.
Aderra has three
subterranean parking garages with elevators to deliver residents directly to
their unit floor. It provides open floorplans with above-average 10- and
11-foot ceilings, gourmet-style kitchens, Energy Star GE stainless steel
appliances, custom wood cabinetry, gas fireplaces and oversized closets.
Property amenities include gate access, fitness center, pet areas, resort-style
pool and spa, and direct golf course access.
For a complete copy of the company’s news release,
please contact:
Stacey Hershauer
focusAZ
Marketing & Public
Relations
(480) 600-0195
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