Cushman & Wakefield Negotiates Sale of 240-Unit Value-Add Investment
PHOENIX, Arizona – Cushman & Wakefield completed the sale of Anzio Apartment Homes, located at 1330 West Broadway Road in Tempe, Arizona. An entity formed by Laguna Point Properties, LLC of Laguna Hills, California purchased the property from WWC VII, LLC, a company formed by Western Wealth Capital of North Vancouver, British Columbia, for $25.7 million ($107,083 per unit).
David Fogler and Steven Nicoluzakis of Cushman & Wakefield represented the seller.
Anzio Apartment Homes is a 240-unit, Class B garden-style apartment community located on Broadway Road at Priest Drive. Spanning 9.1 acres, the property features two swimming pools with spa, a clubhouse, business center, fitness center, basketball court, children’s playground, on-site pet park, picnic area with barbecue, gated access, secure bike storage and covered parking.
Built in 1971, the property offers one- and two-bedroom options with an average unit size of 770 square feet. Interior amenities include fully equipped kitchens, pantries, walk-in closets, ceiling fans, vertical blinds and private balconies or patios.
“The buyer was attracted to Anzio because of the large, growing job base in Tempe,” said David Fogler.
Located in the heart of Tempe, Anzio Apartments Homes provides access to major valley freeways, Arizona State University, Tempe Town Lake and Mill Avenue.