TerraCap Management, a real estate investment firm headquartered in Naples, Florida, has significantly expanded its presence in the Phoenix metropolitan area by acquiring the Tresa at Arrowhead apartment complex in Glendale, Arizona. The transaction, valued at $82.16 million, adds 360 units to TerraCap’s growing multifamily portfolio.
Key Takeaways
- A Florida-based real estate investment firm, TerraCap Management, has purchased the Tresa at Arrowhead apartment development.
- The 360-unit multifamily property is located in Glendale, Arizona, a suburb of Phoenix.
- The acquisition price was $82.16 million, equating to $228,219 per unit.
- The seller in this transaction was Hamilton Zanze & Co.
Strategic Expansion in a Growing Market
The acquisition of Tresa at Arrowhead marks a strategic move by TerraCap Management to bolster its holdings in the rapidly expanding Phoenix market. The 360-unit property, situated at 17722 N. 79th Ave. in Glendale, represents a significant addition to the firm’s multifamily investments.
Deal Details
The sale price for the Tresa at Arrowhead apartments was $82.16 million. This figure breaks down to $228,219 per unit, reflecting the strong demand and valuation of multifamily assets in the region. The seller, Hamilton Zanze & Co., completed the transaction with TerraCap Management on March 30, 2026.
Phoenix Multifamily Market Outlook
Phoenix continues to be a key market for real estate investors, driven by population growth, job creation, and a favorable business climate. The acquisition by TerraCap Management underscores the ongoing investor confidence in the long-term prospects of the Phoenix multifamily sector, which benefits from consistent demand for rental housing.