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3/22/22
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Cantamar Apartments, a 180-unit multifamily community in Phoenix was acquired by a venture between SB Real Estate Partners and Marble Partners in a $58.1 mil ($323k/unit) deal. The property, located at 16630 N 43rd Ave, was sold by Cantamar Apartments Associates LLC.
Cantamar is an all two-story community offering one-, two- and three-bedroom floorplans, with air conditioning, nine-foot ceilings, patio/balconies, walk-in closets and pet friendly units. On-site amenities include a resort-inspired pool/hot tub, clubhouse, and fitness center.
The location is convenient to the 101 and I-17 freeways as well as shopping, dining, recreation and entertainment options including Arrowhead Mall. There are also several major employers closely accessible.
David Fogler and Steven Nicoluzakis with Cushman & Wakefield’s Multifamily Advisory Group in Phoenix represented the seller in the transaction.
“While well maintained by the previous owners, Cantamar offered exceptional value-add potential to the new ownership group,” said Fogler. “The community features large, well-designed floorplans, great on-site amenities, and is located in a highly desirable portion of Phoenix.”
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