CBRE Arranges Sale of Tresa at Arrowhead Apartments for $82.15 Million

CBRE negotiated the $82.15 million sale of Tresa at Arrowhead, a 360-unit multifamily community located in Glendale, Arizona. CBRE's Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen represented the seller, San Francisco-based Hamilton Zanze. TerraCap Management acquired the community. CBRE Debt & Structured Finance arranged financing for the buyer.

“Tresa at Arrowhead generated strong interest due to its location within one of the West Valley’s most established and supply‑constrained submarkets,” said Pesch, vice chairman at CBRE. “The Arrowhead area continues to attract both institutional and private capital, and this transaction reflects sustained demand for well‑operated multifamily assets in the West Valley with long‑term growth fundamentals.”

Completed in 1998, a low-density garden site plan with all two-story buildings and expansive amenities. The gated community has 107 detached garages, three pool and spa areas, a large resident clubhouse and game room, a fitness center with cardio and weight training equipment, a dog park, barbecue and picnic areas, a dry sauna, and is walkable to Arrowhead Towne Center, the retail anchor of the Arrowhead Ranch submarket.

TerraCap Management LLC is a commercial real estate investment manager focused on value-add real estate acquisitions in the South Atlantic, West Central South, and West Mountain regions of the United States. With over 19.3 million square feet of real estate acquired to date, TerraCap currently manages over 6,700,000 square feet. TerraCap’s Phoenix portfolio includes office and industrial assets and Tresa at Arrowhead marks the company’s first multifamily acquisition in the Phoenix market.

“Tresa at Arrowhead represents an exceptional opportunity to acquire a well‑located community in one of the most established submarkets in the West Valley,” said Baron Davis, TerraCap’s National Director of Acquisitions. “The Arrowhead area benefits from strong demographics, proximity to major employment centers, and enduring renter demand. We are excited to enter the Phoenix multifamily market with Tresa at Arrowhead and look forward to building on the property’s solid fundamentals while continuing to invest in the resident experience.”

Since its founding in 2001, the seller Hamilton Zanze has sponsored the acquisition of over $7.9 billion in multifamily assets primarily in the Western, Southwestern and Eastern U.S. The company’s portfolio currently comprises 120 properties (21,606 units) across 28 markets

“The sale of Tresa at Arrowhead reflects both the strength of the Arrowhead submarket and the disciplined execution of our business plan,” said Hamilton Zanze senior director Anthony Ly. “We were able to enhance operations and create meaningful value while continuing to deliver a high‑quality living experience for residents. This transaction underscores the sustained investor demand for well‑located, workforce housing in the West Valley.”