Las Vegas based Capro Arcadia Views LLC acquires newly built ARCADIA VIEWS
PHOENIX, Ariz. – January 31, 2024 – Cushman & Wakefield announced the firm has brokered the sale of ARCADIA VIEWS, a newly constructed 16-unit luxury apartment community in Phoenix, Arizona. Built in 2023, the new Class A eco-friendly multifamily development located at 2640 North 52nd St was acquired by Las Vegas based Capro Arcadia Views LLC for $8.5 million ($531,250 per unit).
David Fogler, Steven Nicoluzakis and Race Carter with Cushman & Wakefield’s Multifamily Advisory Group in Phoenix represented the seller, Kinella Capital, in the transaction.
“ARCADIA VIEWS is a unique and highly desirable apartment community envisioned for the next generation of luxury living. The property features exceptionally thoughtful and appointed elements for tenants seeking a modern living environment while the location is also close to many amenities and freeway access,” said Steven Nicoluzakis, Executive Managing Director. “We continue to see good demand across the Phoenix Metro from investors wanting these types of modernized, high quality and well-located multifamily assets.”
“Additionally, per its web site, ARCADIA VIEWS fuses its contemporary design together with high-performance building materials and smart technology to elevate and streamline lifestyle while reducing environmental impacts,” added Nicoluzakis.
ARCADIA VIEWS is a collection of 16 luxury apartments featuring spacious one- and two-bedroom floor plans, each individually designed to optimize space, light, and functionality. With detailed finishes, the units also offer chef-inspired kitchens, spacious outdoor areas, and smart design throughout. Select units also provide views of Camelback Mountain.
The property is surrounded by an eclectic mix of cuisine, shopping, businesses, and entertainment. Loop 202 is also conveniently close while downtown Phoenix is within 10 minutes. Several recreational areas such as Papago Park, Camelback Mountain, and the Arizona Canal are also located near ARCADIA VIEWS.