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January 24, 2021
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Private Investor Money Buys 240-Unit AZ Res Community

12/21/20

Enclave at Arrowhead, a 240-unit res community in Peoria, AZ was acquired by a private family investment entity for $63 mil, or $262.5k/unit. The property was sold by R&V Management and Wermers Properties.

Built in 2006, Enclave at Arrowhead’s amenities include a fully equipped fitness center, leasing center, swimming pool area and resident clubhouse. Approximately half of the units are town home-style with direct-access garages, and the average unit size is just over 1k sf, one of the largest in the market.

Located at 8092 W. Paradise Lane in Peoria, Enclave at Arrowhead is within the P83 Entertainment District adjacent to Arrowhead Towne Center. Residents can walk to over 2.4 msf of retail and entertainment amenities including the spring training facilities for Major League Baseball’s San Diego Padres and Seattle Mariners.

CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter, Matt Pesch, and Mark McFate of Phoenix Multifamily Institutional Properties represented the seller in the deal.

“R&V Management completed transformational upgrades to the amenities that added tremendous value and positioned the community to better compete in the market,” said Cunningham. “Enclave at Arrowhead’s quality upgrades, further upside potential and advantageous location attracted significant interest.”





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