Stockdale Capital Partners Acquires 335-Unit Multifamily Community in Chandler, AZ for $110.2

Rezul News/10725984
Stockdale completes its second multifamily acquisition in the Phoenix metro area in just three months, building on its November purchase of the 266-unit Quincy at Kierland in North Scottsdale.

LOS ANGELES - Rezul -- Real estate private equity firm Stockdale Capital Partners ("Stockdale") has acquired Avant at Fashion Center, a 355-unit luxury mid-rise apartment community in the Phoenix submarket of Chandler, AZ for $110.25 million.

Avant at Fashion Center is located at 555 South Galleria Way in the heart of the Price Road Corridor, one of top employment hubs in the greater Phoenix metro. According to The City of Chandler, the Price Road Corridor accounts for 749 total businesses and more than 42,000 jobs. Residents can also take advantage of numerous retail amenities including the Chandler Fashion Center which is located only a block away.  With immediate access to the interchange of Loop 202 and Loop 101, two of the most traveled thoroughfares in the Phoenix MSA, residents benefit from quick, convenient access to key employment hubs throughout the East Valley, including Tempe, Scottsdale, Chandler, and downtown Phoenix.

More on Rezul News
"Chandler is one of the strongest employment markets in Arizona while also offering a high quality of life for its residents," said Stockdale Managing Director Samuel Palmer, who along with Managing Director Chase Jensen leads the company's multifamily platform. Strategic, modest upgrades will allow us to position the asset competitively against newer, more expensive properties in the area and capitalize on current market demand."

"This area is experiencing a rapid supply cutoff, unlike much of the Phoenix Valley where substantial new inventory is still on the way, which positions this location more favorably," added Jensen.

Built in 2017, Avant at Fashion Center features a mix of studio, one-, and two-bedroom units housed in seven, three- and four-story buildings on a 11.4-acre site.  The units offer luxury finishes including vaulted ceilings, designer baseboards, French door refrigerators with water and ice dispensers, dark wood cabinetry, and in-unit washers and dryers. Residents also enjoy a wide array of resort style amenities including a large swimming pool with an expansive deck featuring poolside loungers and cabanas, covered social areas, stainless steel barbecue grilling stations, a resident lounge, and a two-story fitness center.

More on Rezul News
IPA's Steve Gebing and Cliff David marketed the property for sale on behalf of the seller.

About Stockdale Capital Partners
Stockdale Capital Partners is a vertically integrated real estate investment firm with a 30-year history of investing in commercial real estate across multiple asset classes throughout the U.S. The company is an owner-operator specializing in the redevelopment and repositioning of real estate assets with expertise in revitalizing urban properties of all types. The firm currently manages approximately $3.0 billion in gross AUM on behalf of several discretionary, comingled closed-end and open-ended funds. For more information, please visit our website at www.stockdalecapital.com.

Contact
Bruce Beck
DB&R Marketing Communications, Inc.
***@dbrpr.com


Source: Stockdale Capital Partners
Show All News | Report Violation

0 Comments

Latest on Rezul News