April 9, 2020
CBRE arranged the $63.5-million sale of Park Place at Fountain Hills, a Class A multifamily community located in Fountain Hills, AZ. The buyer was Hong Kong-based Button Capital Limited, whose U.S. office is in Scottsdale. The seller was Real Capital Solutions, based in Louisville, CO.
Built in 2018, the 230-unit Class A community has two swimming pools surrounded by spacious lounge areas, a well-appointed fitness center and separate spin room, a two-story clubhouse with game room and full kitchen, business center, and package locker system.
CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch structured the transaction on behalf of the seller. CBRE’s Rocco Mandala, Anthony Valenzuela, and Dominique Damerell arranged the multifamily debt on behalf of the buyer.
Gunter says, “Park Place is the premier apartment community in Fountain Hills. The community’s modern design, walkability and condominium-level interior finishes, combined with the best amenities in the submarket, generated significant buyer interest.”
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