Multifamily

Cushman & Wakefield Brokers Sale of Village at Aspen Place Luxury Apartment Community for $64.5 Million in Flagstaff, AZ

Class A multifamily community with 222 housing units

Cushman & Wakefield announced today the firm has brokered the sale of Village at Aspen Place, a 222-unit Class A, mixed-use luxury apartment community located within Aspen Place at the Sawmill, Flagstaff, Arizona’s premier lifestyle center. An entity formed by Orange County, California-based NNC Apartment Ventures, LLC acquired the Village at Aspen Place community for $64.5 million. The seller was an entity formed by Kansas City, Missouri-based VanTrust Real Estate, LLC.

David Fogler and Steven Nicoluzakis with Cushman & Wakefield’s Multifamily Advisory Group in Phoenix represented the seller in the transaction.

“The buyer was attracted by the opportunity to acquire one of the finest apartment communities in the Flagstaff submarket,” said David Fogler, Executive Managing Director. “Village at Aspen Place’s unit interiors feature high quality finishes while its amenities are ‘best in class’. Additionally, surrounding the property, Aspen Place at the Sawmill features some of the finest shopping, restaurants and service businesses Flagstaff has to offer.”

Village at Aspen Place was completed in 2015 and features a mix of studio, one-bedroom and two-bedroom floor plans. The community features ground floor retail, an attached parking garage and has elevator service to each floor. Its abundance of high-end amenities include a resident clubhouse, kitchen and coffee lounge, fitness center and yoga room, swimming pool and spa, gourmet barbecue grills, fire pit with outdoor seating,  bike/ski repair shop, stand-up tanning bed, pet washing station, package concierge lockers, and more.

Located at 601 East Piccadilly Dr., Village at Aspen Place is conveniently located to nearby shopping, dining and entertainment venues as well as Flagstaff’s historic downtown area and Northern Arizona University.