Cushman & Wakefield Negotiates Sale of 164-Unit Value-Add Apartment Community
PHOENIX, ARIZ. – David Fogler and Steven Nicoluzakis of Cushman & Wakefield represented an entity formed by Phoenix-based Clear Sky Capital, LLC in the sale of Tatum Place, located at 16801 N. 49th Street in Scottsdale, Ariz. Tatum Investment Partners, LLC, an entity formed by Chicago-based Rockwell Partners, purchased the property for $26.15 million.
Tatum Place is a 164-unit, Class B apartment community centrally located east of the southeast corner of Tatum Boulevard and Bell Road on 49th Street.
“Tatum Place is Rockwell Partners’ first acquisition in the Phoenix market. They were attracted to Tatum Place because of its excellent location and by the potential to add value by upgrading unit interiors and common area amenities,” said Fogler.
The community offers a mix of one- and two-bedroom floor plans at an average size of 814 square feet. Each apartment features nine-foot ceilings, all-electric kitchens, washer/dryers in units, patios/balconies, wood-style flooring (in updated units) and walk-in closets. In addition, Tatum Place offers its residents a brand new state-of-the-art fitness center, two swimming pools, poolside clubhouse, outdoor barbecue grills, covered parking, gated access, fire pit by main pool and free WiFi.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.