Investor Re-Enters Phoenix Area with $64.5M MF Buy

Standard Portfolios LLC of Arcadia, CA has reportedly struck a deal with Irvine, CA-based Bascom Group to acquire the 396-unit Country Brook apartments in Chandler, AZ.

Sources say the buyer paid $64.5 million for the property, which is located at 4909 W. Joshua Blvd. The transaction is Standard Portfolio’s first since selling a 2,759-unit portfolio of Phoenix-area apartments in 2014.

Cindy Cooke and Brad Cooke with Colliers International brokered the deal.