CBRE Arranges Sale of Sonoma Ridge Apartment Community in Peoria, AZ
31 May 2018
CBRE arranged the sale of Sonoma Ridge, a 240-unit garden-style multifamily community, located at 8201 W. Beardsley Rd. in Peoria, Arizona. TM Equities Inc, of Salt Lake City, Utah, purchased the property from San Diego, California-based Sunroad, for $42 million.
Built in 2001, Sonoma Ridge features a low-density site plan with all two-story buildings. The community offers spacious one-, two- and three-bedroom floor plans averaging 918 square feet. Individual residences feature nine-foot ceilings, washers/dryers, vinyl wood plank flooring and private patios/balconies. Community amenities include resident clubhouse, swimming pool and spa, children’s playground and picnic areas with stainless steel barbeque grills.
Located in the Arrowhead submarket, Sonoma Ridge is surrounded by master-planned communities, the best demographics in the West Valley, top-rated schools and features immediate access to the West Valley’s top retail/dining destinations including Arrowhead Towne Center and the P83 Entertainment District.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.