Soleil’s Price Per Unit is Third Highest in Chandler This Year

Arizona-based Del Marco Capital LLC recently acquired the Soleil Apartments, a 188-unit garden-style community in Chandler, AZ. The $335,106 price per unit represents the third largest price per unit in the burgeoning Chandler submarket this year.

Soleil’s compelling location made for an ideal buyer scenario. Apartment rents have increased more than 9 percent in the submarket in just the last quarter, spurring strong interest in the property.

The transaction was brokered by NorthMarq’s investment sales team of Trevor Koskovich, Jesse Hudson, Bill Hahn and Ryan Boyle. NorthMarq’s Phoenix debt and equity team of Brandon Harrington, Bryan Mummaw and Tyler Woodward financed the acquisition for the buyer with a 79 percent loan-to-value debt fund execution.

“Soleil had over 25 unique property tours and over 350 CA registrations,” said Koskovich. “Establishing a competitive bidding process helped source the most qualified buyer.” 

Del Marco intends to finish the current value-add enhancements that were initiated by the previous owner. These enhancements include completing the interior upgrades, adding additional tenant amenities, and upgrading the leasing office, clubhouse and business center.

Soleil has one-, two- and three-bedroom units with an average size of 1,058 square feet. The property was built in 1995.