Enclave at Arrowhead for Sells for $63M
Enclave at Arrowhead, a 240-unit multifamily community in Peoria, traded hands for $63 million. R&V Management and Wermers Properties divested the 2006-built property to an unnamed private family buyer.
Located at 8092 W. Paradise Lane, the property is within the P83 Entertainment District adjacent to Arrowhead Towne Center. Residents can walk to more than 2.4 million square feet of retail and entertainment amenities including the spring training facilities for the San Diego Padres and Seattle Mariners.
Amenities include a fully equipped fitness center, leasing center, swimming pool area and resident clubhouse. Roughly half of the units are townhome-style with direct-access garages.
CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter, Matt Pesch, and Mark McFate represented the seller.
Cunningham says, “R&V Management completed transformational upgrades to the amenities that added tremendous value and positioned the community to better compete in the market. Enclave at Arrowhead’s quality upgrades, further upside potential and advantageous location attracted significant interest.”
For comments, questions or concerns, please contact Dennis Kaiser