PHOENIX-Weidner Investment Services has solidified its position as the largest apartment owner in the Valley with the $76 million acquisition of Trillium Pinnacle Peak. The 724-unit, class A complex, developed and sold by Trillium Residential LLC, is one of the largest in the Phoenix metro area.
With the Trillium Pinnacle Peak acquisition, Kirkland, WA-based Weidner owns more than 3,200 apartment units in Phoenix and its suburbs. In the past 12 months, the firm has invested more than $165 million in local apartment properties.
In addition to Trillium Pinnacle Peak, Weidner recently bought: Ocotillo Springs, a 272-unit apartment complex, for $24.7 million; Monterra, a 258-unit, class A apartment complex, for $16.7 million in an off-market transaction; Indigo at Trianna and Barossa at Trianna, two class A apartment complexes in Peoria, AZ, totaling 732 units for $52 million; and 220-unit Sonoma Landing in Gilbert, AZ, for $20 million.
Mark Forrester of Hendricks & Partners brokered the sale of Trillium Pinnacle Peak, which is situated on nearly 30 acres at 24250 N. 23rd Ave. The garden-style community offers 13 unique floor plans including one, two, and three-bedroom units ranging in size from 647 square feet to 1,393 square feet. Units include raised panel kitchen cabinets, faux granite counter tops, stainless-steel sinks, black GE appliances including built-in microwaves, wood replicated flooring, 36-inch vanities, and full-size washers and dryers.
Community amenities include: a 10,920-square-foot clubhouse featuring multiple seating areas; flat screen TVs; gaming station; demonstration kitchen; pool tables; leasing center; coffee bar; 24-seat cinema; spa; and fitness center.
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