Florida-based TerraCap Management has planted its flag in Glendale, scooping up Tresa at Arrowhead, a 360-unit apartment community at 17722 N. 79th Ave., for about $82.16 million. The sale shifts ownership from San Francisco-based Hamilton Zanze & Co. and gives TerraCap its first multifamily foothold in the Phoenix market.
According to CoStar, the property traded for $82.16 million, or roughly $228,219 per unit, in a deal the outlet posted March 30, 2026. CoStar’s report lists the property’s 17722 N. 79th Ave. address and identifies the CBRE brokers who brought the asset to market.
Deal Specifics and Financing
CBRE’s Asher Gunter, Matthew Pesch, Sean Cunningham and Austin Groen represented Hamilton Zanze in the sale, according to Real Estate Daily News, which published CBRE’s transaction summary on the deal.
Industry reporting indicates TerraCap financed the acquisition with a $53.4 million Fannie Mae loan originated by CBRE Capital Markets; ConnectCRE attributes the loan details to CommercialEdge.
Why Arrowhead Appealed
TerraCap and the CBRE team pointed to the Arrowhead Ranch submarket’s positioning and tight supply as major selling points. The buyer’s announcement highlights proximity to Loop 101, Arrowhead Towne Center and a cluster of major employers, and presents the acquisition as a value-add play in growth markets. TerraCap’s press release lays out the firm’s investment rationale in more detail.
About the Asset
Built in 1998, Tresa at Arrowhead spans roughly 19 acres and consists of 53 one- and two-story residential buildings. The community’s amenity package includes three swimming pools, a clubhouse, fitness facilities and detached garages, according to Hamilton Zanze’s sale announcement. The seller held the property for more than nine years and executed upgrades to the community before bringing it to market; Hamilton Zanze’s release details the asset specifics and prior improvements.
Industry coverage frames the transaction as one piece of a broader wave of out-of-state capital targeting Phoenix multifamily, where fundamentals are described as strongest in supply-constrained West Valley submarkets. For additional context on how the deal fits into that trend, see CBRE’s transaction summary.
