Cushman & Wakefield reps sell Tatum Place Apartments for $18M

Tatum Place Apartments sell for 18.1M (Submitted photo)

Cushman & Wakefield reps announce the sale of Tatum Place for $18.1 million.

According to a press release, the 164-unit apartment community located at 16801 N. 49th Street in Scottsdale, sold for $110,336 per unit to Phoenix-based Clear Sky Capital EBH, LLC.

Cushman & Wakefield Executive Managing Directors David Fogler and Steven Nicoluzakis of the Phoenix office represented the seller, NNC Tatum Place, LLC of Long Beach, California.

“The community presented an opportunity for an owner to continue repositioning the asset to compete with comparable properties in the thriving Northeast Phoenix market,” said Mr. Fogler in a prepared statement.

The release described Tatum Place as a well-maintained apartment home community with great value-add potential. The property, built in 1984, offers one- and two-bedroom floor plans with an average unit size of 804 square feet.

Residents enjoy the amenities of two swimming pools, with one Olympic-style, sun decks, spa, fitness center, gas barbecue grills and picnic area, laundry facility, gated access and covered parking. Features also include panoramic mountain views and has easy access to a variety of shopping, dining and entertainment venues, the release added.

 

The Scottsdale Independent is published monthly and mailed to 75,000 homes and businesses in Scottsdale.

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