Chandler Mid-Rise Rental Asset Sells for $94.5M

The Alta Chandler at the Park, a 291-unit mid-rise multifamily asset has sold for $94.5 million, which represents $324,742 per unit. An Institutional Property Advisors (IPA) team led by Cliff David headed up the sale and found financing for the deal. IPA Capital Markets arranged $52 million in acquisition financing.

Located within walking distance of The Park shopping center along Chandler Boulevard, the property is a 30-minute drive from  the majority of Phoenix MSA’s high-tech workforce and under two miles from the Price Corridor.

Alta Chandler at The Park’s apartment interiors have expansive, open-concept floor plans with nine-foot ceilings, laundry closets with full-size or stackable washers and dryers, extended primary bedrooms with dedicated work-from-home space, and separate den or loft quarters. Select units have direct access garages. The property has an open-concept clubhouse, a convenience market, sky lounge, fitness center, and a private, multi-purpose fitness room.

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