Log in

Real estate

Phoenix apartment complex sells for $56 million

The northeast Phoenix property has 200 units

Posted 5/7/21

Cushman & Wakefield announced Friday it has brokered the sale of Cactus Forty-2, a 200-unit apartment community located at 4242 East Cactus Road. The Paradise Valley community was purchased by Los Angeles-based Ezralow Company, LLC, which acquired it for $56.05 million.

You must be a member to read this story.

Join our family of readers for as little as $5 per month and support local, unbiased journalism.


Already have an account? Log in to continue.

Current print subscribers can create a free account by clicking here

Otherwise, follow the link below to join.

To Our Valued Readers –

Visitors to our website will be limited to five stories per month unless they opt to subscribe. The five stories do not include our exclusive content written by our journalists.

For $6.99, less than 20 cents a day, digital subscribers will receive unlimited access to YourValley.net, including exclusive content from our newsroom and access to our Daily Independent e-edition.

Our commitment to balanced, fair reporting and local coverage provides insight and perspective not found anywhere else.

Your financial commitment will help to preserve the kind of honest journalism produced by our reporters and editors. We trust you agree that independent journalism is an essential component of our democracy. Please click here to subscribe.

Sincerely,
Charlene Bisson, Publisher, Independent Newsmedia

Please log in to continue

Log in
I am anchor
Real estate

Phoenix apartment complex sells for $56 million

The northeast Phoenix property has 200 units

Posted

Cushman & Wakefield announced Friday it has brokered the sale of Cactus Forty-2, a 200-unit apartment community located at 4242 East Cactus Road.

The Paradise Valley community was purchased by Los Angeles-based Ezralow Company LLC for $56.05 million. 

Cushman & Wakefield’s David Fogler and Steven Nicoluzakis, who work in the multifamily advisory group in the firm’s Phoenix office, represented the seller, Olympus Property. 

“Cactus Forty-2 is a highly attractive infill Class A multifamily community located near the soon-to-be renovated Paradise Valley Mall,” said David Fogler, Executive Managing Director. “The community has been very well maintained since first developed in 2014 and provides residents with highly attractive unit interiors combined with exceptional amenities.”

Cactus Forty-2 offers studio, one-and two-bedroom units with 9-foot ceilings, hardwood-inspired floors, stainless steel appliances, granite countertops and more lush amenities. Each unit also features washer/dryers and some boast private patios and balconies depending on the floor plan.

Other community amenities include a pool and spa, outdoor kitchen, fireplace, fitness center, clubhouse, pet park, covered parking, gated access and mountain views. 

Located on Cactus Road, Cactus Forty-2 is within walking distance to the soon-to-be-renovated Paradise Valley Mall and has access to the entertainment, shopping and dining found throughout North Scottsdale and North Phoenix. The SR-51 freeway is also nearby. 

Cushman & Wakefield is among the largest real estate firms with more than 50,000 employees in 400 offices across the globe. In 2020, the firm had revenue of approximately $7.8 billion across its services.