NorthMarq’s Phoenix office arranges sale for the $53.5 million Cinnabarr Apartments in Phoenix, Arizona
PHOENIX, ARIZONA (December 16, 2020) – NorthMarq’s Phoenix investment sales team of Trevor Koskovich, president, Bill Hahn, executive vice president and Jesse Hudson, vice president brokered the $53.5 million sale of the Cinnabarr Apartments on December 10th, 2020. The 430-unit multifamily property is located at 4141 West Glendale Avenue in Phoenix, Arizona. NorthMarq represented both the buyer, Tides Equities, LLC and the seller, JK Residential Services, Inc.
“Cinnabarr is one of 16 transactions and 3,338 units sold by NorthMarq’s Phoenix Investment sales team in quarter four alone,” says Koskovich. “The multifamily asset class preserves a strong performance through an otherwise uncertain year with an optimistic trajectory ahead.”
Tides Equities plans to reposition the asset with their standard interior and exterior renovations. They have already renamed the property as Tides at East Glendale.
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of more than $52 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.northmarq.com.
