NexMetro Communities sold Avilla Town Square, a 152-unit multifamily property in the suburban Phoenix city of Gilbert, AZ. Buyer Keller Investment Properties LLC paid $42.6 million for the property at 150 E. Warner Rd.

Berkadia’s Mark Forrester, Ric Holway, Dan Cheyne, Art Wadlund and Clint Wadlund marketed the asset and negotiated on behalf of the seller. “Investor interest in Avilla Town Square was intense from a wide variety of qualified prospective buyers,” Forrester said.

Berkadia also secured $27.6 million in Fannie Mae acquisition financing; Clay Akiwenzie secured the 10-year, sub-4%-interest rate loan for the buyer.

Avilla Town Square delivered in 2018, and offers one, two and three-bedroom floor plans. Residents have access to a resort-style swimming pool, outdoor area with a fireplace, and covered parking and garages.

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