BERKADIA’S PHOENIX TEAM COMPLETES SALES IN EXCESS OF $61M FOR TWO MULTIFAMILY PROPERTIES

Berkadia today announced the sale of two separate multifamily properties in Goodyear, Arizona, located less than a mile apart. Senior Managing Director Mark Forrester, Managing Director Ric Holway, Senior Director Dan Cheyne and Associate Tom Wolff of the Phoenix office completed the transactions, which closed within a week of one another and sold for more than $61.5 million combined.

Serafina

“In both situations, the buyers were attracted to Goodyear’s emerging market,” said Forrester. “There’s quite a bit of long-term growth potential in this area and each property has been well maintained, increasing the value for investors.”

 

On May 24, Berkadia facilitated the $32.5 million sale of Serafina Apartment Homes, a garden-style property located at 15400 W. Goodyear Blvd North. The seller was Fairfield Centerra LLC, a Delaware limited liability company. The buyer was an entity formed by ReNue Properties.

The property features 268 units with one-, two- and three-bedroom floor plans. Built in 2009, apartment units feature kitchens with cherry and maple cabinetry, black GE appliances, a Roman oval soaking tub, oversized walk-in closets and a covered patio or terrace with storage room. The community offers residents a resort-style heated swimming pool and spa, outdoor fireplace, fully-equipped fitness center, clubhouse with plasma TVs, business center, picnic areas and playground.

 

In a separate transaction on May 19, the Phoenix team completed the $29.04 million sale of Lunaire Apartments, another garden-style multifamily property located at 949 S. Goodyear Blvd East. The seller was Fairfield Goodyear, LLC, a Delaware limited liability company, and the buyer was RK Lunaire Apartments LLC, a Delaware corporation.

 

The property was also built in 2009 and contains 240 units, which come with one-, two- and three-bedroom floor plans. Apartments include central air, fully equipped kitchens, ceiling fans, Roman bathtubs and covered patios. Community amenities include a resort-style swimming pool with outdoor heated spa, fountain and outdoor fireplace, picnic area, business center and fully-equipped fitness center with TV.

Less than 10 miles from Westgate Entertainment District, the location of both properties offers access to Interstate 10 and Estrella Parkway. Top employers in the area include Amazon, Dick’s Sporting Good Distribution Facility, Buckeye Logistics Center, REI Distribution Center and Macy’s Fulfillment Center.

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