Cushman & Wakefield Negotiates Sale of The Vintage to San Diego Investor
PHOENIX, AZ – Cushman & Wakefield completed the sale of The Vintage, located at 1303 West Juniper Avenue in Gilbert, Ariz. Pathfinder Gilbert Holdings II, LLC of San Diego purchased the property from Clear Sky Vintage L.P., an entity formed by Phoenix-based Clear Sky Capital, for $18.55 million ($173,364 per unit).
Executive Managing Directors David Fogler and Steven Nicoluzakis of Cushman & Wakefield represented the seller.
The Vintage is a 107-unit, two-story, Class A apartment community located east of the southeast corner of Guadalupe and McQueen Roads in Gilbert. Built in 2000, the property features a recently upgraded resort-style pool and spa, indoor basketball court, an indoor racquetball court, billiards room, fitness center, playground, clubhouse with theater room, and a business center/conference room.
Offering studio, one-, two- and three-bedroom options, The Vintage has an average unit size of 1,154 square feet. Unit interiors include fireplaces in select units, 9-foot ceilings, walk-in closets, washer dryers and gourmet style kitchens.
“The Vintage offered the buyer the opportunity to acquire a Class A community with value-add potential in the highly desirable Gilbert submarket,” said David Fogler.