Cushman & Wakefield announced today the $25.6 million sale of Windemere Apartments, a 224-unit apartment community located at 2020 E. Inverness Avenue in Mesa, Ariz., to San Diego-based Pathfinder Gilbert Holdings, LLC (Pathfinder Partners).
Cushman & Wakefield Executive Managing Directors David Fogler and Steven Nicoluzakis of the Phoenix office represented the seller, Phx E. Inverness 11-B LLC (Acacia Property Corporation) of San Mateo, Calif.
Located on the southeast corner of Gilbert Road and the US-60, Windemere offers the Buyer value-add potential through upgrading unit interiors and modernizing common areas. “The property’s outstanding location allows for great exposure along Gilbert Road while offering residents immediate access to employment, and entertainment venues, including the vibrant Heritage District in Downtown Gilbert,” said Nicoluzakis.
The property, built in 1986, sits on 11.8 acres and currently offers one- and two-bedroom floor plans with an average unit size of 836 square feet. Windemere offers its residents two swimming pools, a spa, a clubhouse, fitness center, basketball court, children’s playground, pet wash, pet park, exterior storage, car wash facility, covered parking and landscaped grounds with water feature.