Windemere Apartments Sold to San Diego-based Investor
PHOENIX, August 9, 2016 – Cushman & Wakefield announced today the $25.6 million sale of Windemere Apartments, a 224-unit apartment community located at 2020 E. Inverness Avenue in Mesa, Ariz., to San Diego-based Pathfinder Gilbert Holdings, LLC (Pathfinder Partners).
Cushman & Wakefield Executive Managing Directors David Fogler and Steven Nicoluzakis of the Phoenix office represented the seller, Phx E. Inverness 11-B LLC (Acacia Property Corporation) of San Mateo, Calif.
Located on the southeast corner of Gilbert Road and the US-60, Windemere offers the Buyer value-add potential through upgrading unit interiors and modernizing common areas. “The property’s outstanding location allows for great exposure along Gilbert Road while offering residents immediate access to employment, and entertainment venues, including the vibrant Heritage District in Downtown Gilbert,” said Nicoluzakis.
The property, built in 1986, sits on 11.8 acres and currently offers one- and two-bedroom floor plans with an average unit size of 836 square feet. Windemere offers its residents two swimming pools, a spa, a clubhouse, fitness center, basketball court, children’s playground, pet wash, pet park, exterior storage, car wash facility, covered parking and landscaped grounds with water feature.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.