PP Apartments Acquisitions LLC of Pasadena, CA, purchased The Pinnacle at Shadow Mountain, a 248-unit apartment community, located at 3033 East Thunderbird Road in Phoenix, AZ. The complex sold in October for $17.4 million, over $70,150 per unit. At the time of sale, the complex was 95 percent occupied. The Pinnacle at Shadow Mountains features one, two, and three-bedroom floor plans, each with washer and dryer units, as well as ceiling fans. Some apartments also have a one-car garage attached. The property features two pools, racquetball facilities and tennis court. Bert Kempfert of CB Richard Ellis represented the seller, TMT Pinnacle Apartments Inc. a subsidiary of RREEF Funds of San Francisco. Mark Forrester of Hendricks & Partners represented the buyer.