Cushman & Wakefield Negotiates Sale of La Reserve on Forty-Fifth

PHOENIX, June 21, 2017 – Cushman & Wakefield announced the $12,742,000 sale of La Reserve at Forty-Fifth, a 301-unit apartment community located at 2627 N. 45th Avenue in Phoenix, to Phoenix-based Jevan Capital, PLLC.

Brett Polachek and Jim Crews from the Cushman & Wakefield Phoenix office represented the seller, CEGOP-PHX 1, LLC of Fort Collins, Colo.

Built in 1972, La Reserve on Forty-Fifth offers one-, two- and three-bedroom floor plans with an average unit size of 908 square feet. Sitting on 16.57 acres, the garden-style property’s amenities include three swimming pools, basketball court, three laundry facilities and two picnic areas.

“La Reserve on Forty-Fifth boasts the potential for strong operations with a remaining value-add component including interior renovations. New owners have the ability reduce operating costs and improve the living experience for current and future residents,” said Polachek.

With high visibility on Thomas Road, the property is in close proximity to many local conveniences and employment centers. Residents benefit from convenient access to I-17, I-10 and US-60, as well as being on the METRO bus line.

About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushwakecentennial.com, www.cushmanwakefield.com or follow @CushWake on Twitter.