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BUSINESS
Glendale apartment complex sells for $86 million
Cuvee, near Westgate, under new ownership
(Photo provided by CBRE)
Posted
Special to Independent Newsmedia
A Glendale apartment complex is under new ownership after the property sold for $86 million.
Fore Property Company sold Cuvee, a 310-unit multifamily community located at 7200 N. 91st Ave., to Pillar Communities.
Completed this year, Cuvee features two resort-style pools, a two-story club-style fitness center and a resident clubhouse.
“Cuvee's high-quality amenities, large floorplans and proximity to the Westgate entertainment district provide an excellent resident experience,” Asher Gunter, vice chairman at CBRE, shared in a press release.
Metro Phoenix posted more than 9,900 units of multifamily absorption through three quarters in 2023, one of the top-performing absorption totals of all U.S. metros year-to-date, according to research analyzed by CBRE.
Pillar Communities owns and operates multifamily communities in Arizona and Washington. Cuvee is Pillar's second acquisition in the Valley this year.
