Crossroads

Cushman & Wakefield Reps Seller in Multifamily Sale to Phoenix-based Investor

PHOENIX, September 6, 2016 – Cushman & Wakefield announced today the $25.2 million sale of Crossroads Apartments, a 316-unit apartment community located at 2222 West Beardsley Road in Phoenix, to Phoenix-based CS1031 Crossroads Apartments (Rincon Partners).

Cushman & Wakefield Executive Managing Directors David Fogler and Steven Nicoluzakis of the Phoenix office represented the seller, WW Crossroads Apartments LLC (Olympus Property) of Fort Worth, Texas.

Crossroads is a well maintained Class B apartment community, with great value-add potential, located on Beardsley Road and 23rd Avenue in the Deer Valley submarket. “With immediate access to the I-17 and Loop 101 freeways, this outstanding location provides easy access to entertainment, shopping, dining, employment and excellent freeway access,” said Nicoluzakis.

The property, built in 1982, sits on 10.4-acres and currently offers one-, two- and three-bedroom floor plans. Crossroads offers its residents gated access, a brand-new, fully remodeled clubhouse and leasing center, two resort-style swimming pools, lighted tennis courts and basketball courts, covered playground, community business center, four on-site laundry rooms, door-to-door valet trash service and a park-like setting with fountains.

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 43,000 employees in more than 60 countries help investors and occupiers 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 $5 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. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.