TerraCap Management Secures 360-Unit Glendale Asset in $82.2M Value-Add Deal

TerraCap Management has purchased the 360-unit Tresa at Arrowhead Apartments in Glendale, AZ, for $82.2 million, a strategic value-add play in the Phoenix metro.

By: AXL Media

Published: Mar 11, 2026, 4:39 AM EDT

Source: https://www.multihousingnews.com/

Financing and Management Structure

To facilitate the acquisition, TerraCap secured a $53.4 million Fannie Mae loan originated by CBRE Capital Markets. This financing provides a stable, long-term capital structure for the firm’s renovation strategy. In conjunction with the purchase, TerraCap has appointed Avenue5 Residential as the new property manager, replacing the previous management under the seller's tenure.

Strategic Location: The Arrowhead Ranch Advantage

Situated at 17722 N. 79th Ave., Tresa at Arrowhead is a quintessential "infill" asset. It is within walking distance of the Arrowhead Towne Center, one of the region's premier shopping destinations.

TRANSFORMATIVE ANALYSIS: Strategically, this acquisition is a direct play on the massive industrial and tech expansion in the West Valley. The property is positioned near the Loop 101 freeway, offering residents a direct commute to the Taiwan Semiconductor Manufacturing Company (TSMC) plant in North Phoenix and the growing "Silicon Desert" corridor. While the broader Phoenix metro is currently working through a significant supply wave of new "luxury" apartments, Tresa at Arrowhead serves a defensive "middle-market" niche that is less susceptible to the pricing volatility of high-end new deliveries.

Asset Profile and Value-Add Potential