Cushman & Wakefield Negotiates Sale of 258-Unit Apartment Community
PHOENIX, Arizona – Cushman & Wakefield represented Arcadia 4127 Apts, LLC, an entity formed by Denver-based Baron Properties, in the sale of Arcadia 4127. HGI Acquisitions, LLC, an entity formed by Harbor Group International, LLC of Norfolk, Va., purchased the property located at 4127 E. Indian School Road in Phoenix for $40.35 million.
Executive Managing Directors David Fogler and Steven Nicoluzakis of Cushman & Wakefield represented the seller. Fogler stated, “The buyer was attracted to Arcadia 4127 because of the high level of improvements completed by Baron Properties and because of its location in one of the Phoenix area’s most desirable neighborhoods.”
Arcadia 4127 is a 258-unit fully renovated, garden-style community located in Arcadia. Baron Properties completely upgraded the property, creating a high-quality, affordable living environment in one of Phoenix’s best neighborhoods with immediate access to employment, shopping and dining.
The community offers a mix of one- and two-bedroom floor plans at an average size of 819 square feet. Each apartment features quartz countertops, stainless steel appliances, hardwood-style flooring, under-mount kitchen sinks and select units have views of Camelback Mountain. In addition, Arcadia 4127 offers its residents two swimming pools, outdoor barbecue grills, fire pit, a fitness center, covered parking, gated access, laundry facilities and a dog park.