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Chandler Multifamily Community Claimed for $91M

Riata, a newly-constructed, 300-unit apartment complex in Chandler, sold for $91 million. The buyer was an entity tracing to Idaho-based EPI Property Management, while San Antonio, TX-based Embrey Development was the seller in a deal that works out to $303,333 per unit.

Built in 2020, the asset sits on nine acres at 100 N. Hearthstone Way and features resort-inspired amenities, including a two-story clubhouse with billiards table, arcade games and a dedicated business center. The fully equipped club-style gym includes a separate yoga and fitness studio with spin bikes.

Marcus & Millichap’s Martin Cohan and IPA’s Cliff David and Steve Gebing represented the buyer in a 1031 exchange. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter, Matt Pesch and Mark McFate represented the seller.

JLL’ Zach Koucos and Tim Brousse worked on behalf of the buyer to secure $43 million in acquisition financing via a 25-year, 2.43% fixed-rate, fully amortizing loan with Northwestern Mutual Life Insurance Company.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Financing
  • ◦Sale/Acquisition
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