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4/30/20
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Metro at Zanjero, a 253-unit multifamily community in the Phoenix area, was acquired by San Diego-based Sunroad Enterprises for $55.4 mil ($219k/unit). The asset, located at 9450 W. Cabela Dr in Glendale, was sold by Private Portfolio Group.
Metro at Zanjero amenities include an expansive resort-style pool and spa area, a state-of-the-art fitness center, an outdoor sports lounge with fireplace, en¬tertainment bar, and multiple big screen televisions, and barbeque areas with Viking grills. Individual residences feature large walk-in closets, granite countertops, full-size washer and dryer, and a patio or balcony for every unit. Select units include private garages with direct access.
Built in 2007, Metro at Zanjero is located within walking distance of more than 800k sf of retail amenities, Desert Diamond Casino, and two professional sports venues, State Farm Stadium and Gila River Arena.
CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of Phoenix Multifamily Institutional Properties represented the seller in the transaction.
“Metro at Zanjero is a meticulously maintained community with a comprehensive amenity package and ideal location near Westgate Entertainment District,” said Cunningham. “The community’s vintage and outstanding bones provided an excellent value-add opportunity.”
Metro at Zanjero is Sunroad Enterprises’ fifth acquisition in Phoenix since 2015. The company owns multifamily communities in Glendale, Tempe and Peoria.
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