Cushman & Wakefield Negotiates Sale of 164-Unit Value-Add Apartment Community
|PHOENIX, April 16, 2019 – David Fogler and Steven Nicoluzakis of Cushman & Wakefield represented an entity formed by Phoenix-based Clear Sky Capital, LLC in the sale of Tatum Place, located at 16801 N. 49th Street in Scottsdale, Ariz. Tatum Investment Partners, LLC, an entity formed by Chicago-based Rockwell Partners, purchased the property for $26.15 million.
Tatum Place is a 164-unit, Class B apartment community centrally located east of the southeast corner of Tatum Boulevard and Bell Road on 49th Street.
“Tatum Place is Rockwell Partners’ first acquisition in the Phoenix market. They were attracted to Tatum Place because of its excellent location and by the potential to add value by upgrading unit interiors and common area amenities,” said Fogler.
The community offers a mix of one- and two-bedroom floor plans at an average size of 814 square feet. Each apartment features nine-foot ceilings, all-electric kitchens, washer/dryers in units, patios/balconies, wood-style flooring (in updated units) and walk-in closets. In addition, Tatum Place offers its residents a brand new state-of-the-art fitness center, two swimming pools, poolside clubhouse, outdoor barbecue grills, covered parking, gated access, fire pit by main pool and free WiFi.
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