Phoenix – September 8, 2016 – CBRE has completed the $55 million sale of Arches at Hidden Creek, a 432-unit multifamily community located at 1586 W. Maggio Way in Chandler, Ariz. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office negotiated the transaction. The seller was a venture between Hamilton Zanze of San Francisco, CA and New York, NY-based New York Life Real Estate Investors, on behalf of institutional clients. The buyer was Seattle, WA -based Security Properties.
“Arches at Hidden Creek is located just one mile east of the Price Road Corridor, the Valley’s largest and most established high-tech employment corridor. This location positions the community to capitalize on strong demand for multifamily housing in the Chandler submarket,” said CBRE’s Cunningham.
Built in 1985, Arches at Hidden Creek is a garden-style community featuring all two-story buildings and a desirable low-density site plan. Community amenities include four swimming pools, a resident clubhouse and a fitness center. The community recently received upgrades to the clubhouse, fitness center and other community areas. Individual residences feature well-appointed kitchens, spacious walk-in closets, washer/dryers, fireplaces, and private patios/balconies.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
