Rincon Partners Sells Centerra Apartments Homes

Rincon Partners has sold Centerra Apartments Homes to Tanbic Edgehill Centerra Apartments, an entity formed by Ryan and Anthony Francisco with Edgehill Investments and Tanner Bickelhaupt with Tanbic Investments, for $36.3 million. The 202-unit property is located in Scottsdale, Arizona.

The property offers one- and two-bedroom apartments, averaging 746 square feet, featuring stainless steel appliances, granite countertops, new cabinetry in kitchens and baths, walk-in closets, wood-style flooring, washer/dryers and private patios/balconies. Community amenities include a two resort-style pools and spas, fire pit with surrounding seating, barbecue/picnic area, new fitness center, new leasing/business center and an off-leash dog park.

David Fogler and Steven Nicoluzakis of Cushman & Wakefield represented the seller in the transaction.