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Ezralow Company Sees Value of Cactus Forty-2
Cactus Forty-2, a 200-unit class-A apartment community located at 4242 East Cactus Rd. in the Paradise Valley area of Phoenix, was recently acquired by Los Angeles area-based Ezralow Company LLC for $56.05 million. The seller was Fort Worth-based Olympus Property.
The property is located near the soon-to-be renovated Paradise Valley Mall.
David Fogler and Steven Nicoluzakis with Cushman & Wakefield’s multifamily advisory group in Phoenix represented the seller in the transaction.
“The community has been very well-maintained since first developed in 2014,” said Fogler.
Cactus Forty-2 consists of studio, one-bedroom and two-bedroom units featuring 9-foot ceilings, stainless steel kitchen appliances, granite countertops and large soaking tub in the bathrooms. Units also include full-size washer/dryers with private patios/balconies available in some floorplans.
Cactus Forty-2 fronts the highly trafficked Cactus Road with access to entertainment, shopping and dining venues in North Scottsdale and North Phoenix. The location is also convenient to SR-51.
- ◦Acquisition
