TerraCap Management has acquired Tresa at Arrowhead Apartments, a 360-unit community in Glendale. Hamilton Zanze & Co. sold the asset for $82.2 million, or about $228,220 per unit.
Commercial Edge reports the buyer took out a $53.4 million Fannie Mae loan, originated by CBRE Capital Markets. The community was previously traded 10 years ago, when Hamilton Zanze acquired the asset from Independence Realty Trust for $47 million.
Located at 17722 N. 79th Ave., the property is within walking distance of the Arrowhead Towne Center shopping mall.
Completed in 1998, Tresa at Arrowhead Apartments comprises 53 one- and two-story residential buildings across 19 acres. The upgraded apartments have private balconies or patios and walk-in closets.
Common-area amenities include a fitness center, three swimming pools with spas, a clubhouse and a business center. The community also encompasses a sundeck, game room, barbecue and picnic area, dry sauna and dog park.
CBRE’s Matt Pesch and Asher Gunter, along with Austin Groen, represented the seller.
Phoenix Outlook: Where Growth Is Accelerating — and Where It’s Stalling: Metro-level headlines no longer tell the full story. On April 8 at Connect Phoenix Multifamily, SFR & BTR, senior operators and investors will examine uneven absorption, delivery pressure, shifting rent performance and how fundamentals are expected to evolve over the next 12–24 months. If you’re underwriting Phoenix, this discussion belongs on your calendar. Register to attend: www.ConnectPHXMF2026.comÂ
The post Hamilton Zanze Offloads Glendale Rental Asset for $82.2M appeared first on Connect CRE.
​Â
