2 AMA member companies close big deals this summer

Two AMA member companies, CBRE and P.B. Bell, recently closed big deals

Earlier this month CBRE closed the sale of Enclave at Arrowhead, a class A community in Peoria, on behalf of Baron Properties. The sale completed for nearly $40 million.

Asher Gunter of CBRE recently told Multihousing News that “Enclave at Arrowhead combines an outstanding location in the heart of Peoria’s P83 Entertainment District with discernable value-add potential.”

Enclave at Arrowhead features one to three bedroom apartments with plenty of unique amenities, including vaulted ceilings, in-unit laundry machines, picnic areas, a dog park, a shaded lounge area, and both a fitness and business center.

P.B. Bell recently sold Tuscany Palms, a Class C community, for $49.8 million. They originally acquired the property in 2014 for only $29.5 million. Th community, located in Mesa, features studio to two bedroom apartments with recently renovated interior.

Tuscany Palms has great amenities including tennis and volleyball courts, two swimming pools, a fitness center and a spa.

Both CBRE and P.B. Bell are proud members of the Arizona Multihousing Association (AMA).


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