335-Unit Chandler Multifamily Property Trades for Over $300K/Unit
Stockdale Capital Partners acquired Avant at Fashion Center, a 335-unit apartment community at 555 Galleria Way in Chandler. It sold for $109 million, or $307,042. The property was 94% occupied at the time of the transaction. Starlight Capital was the seller. Starlight paid $84 million for the rental asset in 2018.
The property was constructed in 2016 and is situated near Chandler Fashion Center.
Rental prices for the project ranged from $1,444-$4,014. Amenities included a resident Lounge with flat-screen TV and seating, conference room with flat panel TV and printer, clubroom with demonstration kitchen & complimentary coffee bar, fitness center, spin bikes, concept rowers, and hoist motion cage
Stockdale paid the same price for The Quincy at Kierland in October 2024.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout