Past Sales

Cushman & Wakefield is pleased to present the opportunity to acquire Hayden Park, a 182-unit garden style apartment community located on Hayden Road just outside of Old Town in Scottsdale, Arizona.

Hayden Park offers a proven path to increase net operating income and value by continuing the upgrade program already started by current ownership. Since 2022 current ownership has renovated 46 units (approximately 25% of the property) to the “Platinum” level and have achieved a monthly rent premium of over $300 per unit. By continuing this renovation program net operating income can potentially be increased by an additional $445,000. For a detailed description of the unit interior renovation scope see pages 14 - 18 of the OM.

Beyond the unit interior renovations, the current owners have invested over $675,000 in amenity upgrades, new property signage, various capital replacements and repairs, landscape enhancements, and improved exterior lighting. For a full list of exterior improvements, please refer to page 16 of the Offering Memorandum.

In addition to being an extremely well-maintained property Hayden Park has had an exceptionally stable ownership and occupancy history. The current owners acquired Hayden Park in 1999 and over the past 10 years occupancy has averaged over 96%, something rarely seen in a Phoenix area multifamily asset.

Hayden Park offers residents an attractive mix of one bedroom and two bedroom / two bath floor plans. A total of 46 units are available in a highly desirable single level “casita” style floor plan. These units are highly sought after and achieve a premium rental rate. Residents of Hayden Park are offered two swimming pools with adjacent cabanas, picnic areas with gas barbecue grills, a recently remodeled fitness center, a brand new resident lounge and covered parking.

Hayden Park is being offered on a free and clear basis allowing prospective investors the flexibility to bring in new financing tailored to their specific investment needs.

Cushman & Wakefield is pleased to offer for sale of Wildcat Canyon Village a 76-unit lender-owned student housing community located within easy walking distance of the University of Arizona in Tucson, Arizona.

The University of Arizona, with an enrollment of over 45,000 undergraduate students, is ranked in the top 25 of public universities in the United States and offers students over 300 majors. A member of the BIG-12 Conference, the University of Arizona attracts students from all 50 states and throughout the world. As a top 20 public research institution the university has an annual research budget of over $825 million. Along with the State of Arizona and the city of Tucson, the university continues to grow at a rapid pace with an undergraduate enrollment increase of over 33% since 2015.

Residents of Wildcat Canyon Village are offered a mix of fully furnished one bedroom, two bedroom and three bedroom floor plans, each offered on a “by the bed” basis with individual 12 month lease terms (a small number of shorter term leases are offered on a select basis at a premium). Unit interiors were updated by the previous owner with updates including:

• New flooring

• New Cabinets in kitchens and bathrooms

• New kitchen appliances

• New light fixtures in kitchens and bathrooms

• New window coverings

The previous owner also started the process of converting a portion of the two-bedroom units into three-bedroom floor plans. 36 two-bedroom units have been converted to three-bedroom floor plans; however, it is our understanding that the necessary city approvals have not been obtained for occupancy of these units and therefore the current owner is not leasing the third bedroom in the converted units. A new buyer will have the option of obtaining city approval of the conversion of the two-bedroom units into three bedrooms and operate the property as a 164-bed community or convert the property back to its original format of one and two bedroom units and operate it as a 128-bed community.

Please note that the upgrades to the unit interiors were completed by the previous owner and neither the current owner nor Cushman & Wakefield has verified whether all units have been fully upgraded and whether the necessary city approvals were obtained.

Wildcat Canyon Village offers an excellent opportunity to acquire a lender-owned student housing community located within walking distance of one of the top universities in the country.

Cushman & Wakefield is pleased to offer Ascend on Glendale, a two story 216-unit garden style multifamily community. Completed in 2023 by DR Horton Multifamily, one of the nation’s leading multifamily developers, Ascend on Glendale offers residents a best-in-class experience in one of the country’s fastest growing submarkets.

Cushman & Wakefield is pleased to offer AVALON, a 117-unit fully renovated garden-style asset located in the Biltmore area of the city of Phoenix. Originally constructed in 1973, Avalon has undergone a complete renovation under the current ownership to create a high quality, affordable community in the highly desirable Biltmore area of Phoenix.