TerraCap has expanded its portfolio with the purchase of Tresa at Arrowhead, a 360-unit multifamily community in Glendale, Arizona, for $82.15 million. The acquisition adds a stabilized, garden-style property to the firm’s holdings and marks a notable move into a new geographic market.
The community, known as Tresa at Arrowhead, consists of a low-density garden site plan built in 1998. The property is composed entirely of two-story buildings, reflecting a layout designed to provide residents with a less dense residential environment compared with mid-rise assets. The gated community includes a range of on-site amenities that support resident lifestyle and retention.
Parking and storage options at the property are enhanced by 107 detached garages, offering additional covered parking beyond surface spaces. Residents have access to three pool and spa areas, supporting the property’s appeal in a Sun Belt climate. A large resident clubhouse and game room provide common-area gathering space for socializing and resident events.
Fitness and wellness offerings at Tresa at Arrowhead include a fitness center equipped with cardio machines and weight training equipment, as well as a dry sauna. Outdoor amenities are rounded out by a dog park, barbecue areas, and picnic spaces, giving residents multiple options for open-air recreation and everyday convenience within the community.
The seller, Hamilton Zanze, was represented in the transaction by a CBRE investment sales team. CBRE professionals Asher Gunter, Matt Pesch, Sean Cunningham, and Austin Groen acted on behalf of Hamilton Zanze in marketing and executing the sale. Their role focused on seller representation for the multifamily asset.
On the financing side of the deal, CBRE Debt & Structured Finance arranged financing for TerraCap in connection with the acquisition. While specific loan terms were not disclosed, the involvement of the debt and structured finance group underscores the use of third-party capital to support the purchase.
TerraCap has acquired more than 19.3 million square feet of real estate to date and currently manages over 6,700,000 square feet across its portfolio. The Tresa at Arrowhead acquisition represents the company’s first multifamily purchase in the Phoenix market, signaling an extension of its existing investment footprint into the greater Phoenix metro area.
Hamilton Zanze, the seller, has been active in multifamily investment since its founding in 2001. The firm has sponsored the acquisition of more than $7.9 billion in multifamily assets, with a focus on properties located in the Western, Southwestern, and Eastern regions of the United States.
