The multifamily fundamentals in Phoenix are among the best in the country and one multifamily community is positioned to benefit from strong demand in the region, says its new owner. Jason McCool recently purchased the 163-unit multifamily community Stadium Vue Townhomes in Peoria, AZ for $47.3 million.
Built in 2007, Stadium Vue Townhomes amenities include a pool and spa area with fitness center, resident clubhouse and executive business center. The property, located at 7677 W. Paradise Lane, is one of three multifamily communities in the P83 Entertainment District. P83 and the adjacent Arrowhead Towne Center super regional mall offer approximately 4.4 million square feet of walkable amenities, including the spring training facilities for the San Diego Padres and Seattle Mariners.
Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE Phoenix represented the seller, Sunroad Enterprises.
“The seller’s excellent upgrades to the property enhanced the resident experience and added substantial value,” said Cunningham.
McCool is the founder of Executive Coatings and Contracting LLC, one of the largest multifamily renovation firms in the West.
Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
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