Newly Renovated 95-Unit Apartment Complex in Old Town Scottsdale Sells for $18.3 Million

image_pdfimage_print

PHOENIX, Arizona – Cushman & Wakefield announced that Michigan-based Winfield Apartments of Scottsdale, LLC (Farhad Shokoohi, Principal) purchased The Winfield of Scottsdale, located at 8021 East Osborn Road in Scottsdale, Arizona, for $18.3 million/$192,632 per unit, from Scottsdale-based Winfield Apartments, LLC (Tanner Bickelhaupt, Principal).

Built in 1969 and located in Old Town Scottsdale, The Winfield of Scottsdale is a fully renovated 95-unit premier apartment complex. The property offers one- and two-bedroom apartments, with four unique floor plans, featuring midcentury modern architecture, private patios and state-of-the-art kitchen with stainless steel appliances and Caesar stone countertops. Community amenities include a resort-style swimming pool, fitness center, dog park, grilling stations and proximity to dining, shopping and entertainment.

David Fogler and Steven Nicoluzakis of Cushman & Wakefield represented the buyer in the transaction. Nicoluzakis stated, “This well positioned asset is an excellent fit in the buyer’s current multifamily portfolio. Given the unique and renovated nature of the property, it will prove to be a durable asset for years to come.”

Leave a Reply