PARADISE VALLEY, ARIZ. — Fort Worth, Texas-based Olympus Property has completed the sale of Cactus Forty-2, a multifamily property located in Paradise Valley, a northeast suburb of Phoenix. Los Angeles-based Ezralow Co. acquired the community for $56 million.
David Folger and Steven Nicoluzakis of Cushman & Wakefield’s Multifamily Advisory Group in Phoenix represented the seller in the transaction.
Located at 4242 E. Cactus Road, Cactus Forty-2 offers 200 apartments in a mix of studio, one- and two-bedroom units featuring nine-foot ceilings, hardwood-inspired flooring, stainless steel kitchen appliances, granite countertops, marble bath vanities, large soaking tubs, in-unit washers/dryers and private patios or balconies on some units.
On-site amenities include a pool and spa, outdoor kitchen, fireplace and gathering place, fitness center, clubhouse, pet park, covered parking and gated access.