San Francisco Investor Purchases Fountain Hills Apartments for $30.3 Million

PHOENIX,ARIZ. – On behalf of San Francisco-based 29th Street Capital and Phoenix-based Clear Sky Capital, Cushman & Wakefield completed the sale of Ridge View, a 150-unit luxury apartment community. FPACP4 Ridgeview, LLC, an entity formed by San Francisco-based FPA Multifamily, LLC, purchased the property located at 13225 N. Fountain Hills Boulevard in Fountain Hills, Ariz. for $30.3 million.

Fountain Hills Apartments

Executive Managing Directors David Fogler and Steven Nicoluzakis of Cushman & Wakefield represented the seller. Fogler stated, “Ridge View is an extremely attractive, well-maintained Class A community offering residents recently upgraded unit interiors, updated amenities and incredible mountain views.”

Ridge View is a recently renovated, garden-style community featuring a mix of large two bedroom floor plans. Unit interiors, many of which have been recently upgraded, offer full-size washer/dryers, 9-foot ceilings, custom two-tone paint, gourmet kitchens, granite countertops, black or stainless steel appliances, kitchen islands, walk-in closets, wood-style plank flooring, ceiling fans, bathroom vanities and private patios/balconies.

Renovations and improvements were also completed to the common area amenities, landscaping and building exterior providing residents a newly renovated swimming pool, spa, outdoor fire pit, gas and charcoal BBQ grills, clubhouse, business/computer center, fitness center and covered parking.

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit or follow @CushWake on Twitter.

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