TerraCap Picks Up Arrowhead Apartments for $82.15M
TerraCap paid $82.15 million for the Tresa at Arrowhead, a 360-unit multifamily community located in Glendale, Arizona.
CBRE’s Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen represented the seller, Hamilton Zanze. CBRE Debt & Structured Finance arranged financing for the buyer.
Completed in 1998, this low-density garden site plan features all two-story buildings and expansive amenities. The gated community has 107 detached garages, three pools and spa areas, a large resident clubhouse and game room, a fitness center with cardio and weight training equipment, a dog park, barbecue and picnic areas, a dry sauna.
With over 19.3 million square feet of real estate acquired to date, TerraCap currently manages over 6,700,000 square feet. Tresa at Arrowhead marks the company’s first multifamily acquisition in the Phoenix market.
Since its founding in 2001, the seller Hamilton Zanze has sponsored the acquisition of over $7.9 billion in multifamily assets primarily in the Western, Southwestern and Eastern U.S.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout