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Kidder Mathews Brokers $15M PHX MF Sale
32 Arcadia, a 104-unit multifamily community at 3211 E. Pinchot Ave. in Phoenix, sold for $14.8 million. The buyer was Cowabunga Two, LLC, a private capital family office that focuses on acquiring urban infill sustainable communities. The seller was Moderne Living, a multifamily renovation and development company.
The fully-renovated community consists of four three-story buildings equaling 53,840 rentable square feet. It is situated on 1.92 acres within the East Phoenix and Arcadia-Lite corridors, where renovated and stabilized multifamily communities are scarce and rarely sold.
Kidder Mathews’ Karl Abert represented the buyer in the transaction.
Abert says, “The buyer enthusiastically appreciates the unique opportunity to acquire the 104-unit 32 Arcadia apartments and looks forward to improving the future operations and revenues with their proven proactive management approach and strategies.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition

