PHOENIX—Cactus Forty Two Holdings, LLC, a venture formed by Joe Meyer, Southwest Next Capital Management, and Matt Cody, Cachet Homes, sold its recently completed, 200-unit Cactus Forty-2 apartment community located at 4242 E. Cactus Rd. in Phoenix for $36 million ($180,000 per unit). The buyer was an entity formed by Fort Worth-based Olympus Property (Chandler Wonderly, principal, and Anthony Wonderly, principal).
DTZ executive managing directors David Fogler and Steven Nicoluzakis represented the seller during the transaction.
Fogler tells GlobeSt.com, “Cactus Forty-2 is in a location that hadn't seen new multifamily development in 20 years. This opening provided an opportunity for lease-up. It has easy access to the 51 freeway and a regional mall. We had a lot of interest—it was well-received by the investment community
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
