TerraCap Management Acquires 360-Unit Tresa at Arrowhead Apartments in Phoenix, AZ
TerraCap Management LLC has acquired Tresa at Arrowhead Apartments, a 360-unit complex built in 1998, located in Phoenix, AZ. The firm aims to position investors with assets in growth markets in Arizona. The property includes various amenities and offers potential for further upgrades. It is strategically located near the Loop 101 freeway and the TSMC semiconductor plant, which provides access to higher-wage employment opportunities.
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TerraCap Management LLC has acquired Tresa at Arrowhead Apartments, a 360-unit complex in Phoenix, AZ, built in 1998. The acquisition aligns with TerraCap's strategy to invest in multifamily assets at discounts to replacement costs.
Tresa features one to three-bedroom units, various amenities, and potential for further renovations. Located in the Arrowhead Ranch submarket, the property is near the Loop 101 freeway and close to the TSMC semiconductor plant and other employment opportunities. CBRE represented the seller, and Avenue5 Residential is the property manager.
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