Cushman & Wakefield recently announced Phoenix-based RP 115, LLC sold Centerra Apartment Homes, 11100 N. 115th St. in Scottsdale, for $36.25 million.
The buyer was Phoenix-based Tanbic Edgehill Centerra Apartments, LLC, an entity formed by Ryan and Anthony Francisco with Edgehill Investments and Tanner Bickelhaupt with Tanbic Investments, according to a press release.
Built in 1986, Centerra Apartment Homes is a recently renovated 202-unit garden-style apartment community. The property offers one- and two-bedroom apartments, averaging 746 square feet.
The apartments feature stainless steel appliances, granite countertops, new cabinetry in kitchens and baths, walk-in closets, wood-style flooring, washer/dryers and private patios/balconies.
Community amenities include a two resort-style pools and spas, fire pit with surrounding seating, barbecue/picnic area, new fitness center, new leasing/business center and an off-leash dog park.
David Fogler and Steven Nicoluzakis of Cushman & Wakefield represented the seller in the transaction, a release states.
“This north Scottsdale location is a very supply constraint area that will provide these buyers a durable investment with excellent potential for growth in the future,” Mr. Nicoluzakis said in a prepared statement.