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10/23/19
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Centerra Apartment Homes, a recently renovated, 202-unit garden-style apartment community in Scottsdale, AZ, has traded hands for $36.25 mil, or $179.5k per unit. The buyer was Phoenix-based Tanbic Edgehill Centerra Apartments LLC (an entity formed by Ryan and Anthony Francisco with Edgehill Investments and Tanner Bickelhaupt with Tanbic Investments).
Built in 1986 and located at 111000 N. 115th St in North Scottsdale, Centerra Apartment Homes offers one- and two-bedroom apartments, averaging 746 sf in size, featuring stainless steel appliances, granite countertops, new cabinetry in kitchens and baths, walk-in closets, wood-style flooring, washer/dryers and private patios/balconies. Community amenities include a two resort-style pools and spas, fire pit with surrounding seating, barbecue/picnic area, new fitness center, new leasing/business center and an off-leash dog park.
David Fogler and Steven Nicoluzakis of Cushman & Wakefield represented the seller, an entity formed by Rincon Partners.
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