Passco Buys Almeria at Ocotillo Multifamily Community in Chandler for $80M

CHANDLER, ARIZ. — Passco Cos. has acquired the 389-unit Almeria at Ocotillo apartment community in Chandler for $80 million. The community is located at 2470 and 2471 W. Edgewater Way within the Ocotillo master-planned community.

Almeria is walking distance to three of the largest employers in an area known as Silicon Desert. These include Intel, Orbital ATK and Wells Fargo, which is planning to expand within the area. The bank will soon occupy an additional two 13-story office towers that may eventually bring more than 13,000 employees to the area.

CBRE’S Sean Cunningham represented both Passco and the seller, PB Bell, in this transaction.