Berkadia Negotiates Sale of 289-Unit Multifamily Property in Chandler, Arizona for $107M
CHANDLER, ARIZ. — Berkadia Institutional Solutions has arranged the sale of 2150 Arizona South, an apartment community located at 2150 S. Arizona Ave. in Chandler. San Diego-based MG Properties acquired the asset from an undisclosed seller for $107 million.
Mark Forrester, Ric Holway, Dan Cheyne and Andrew Curtis of Berkadia Phoenix represented the seller in the transaction. Charles Christensen of Berkadia Irvine secured $58 million in permanent acquisition financing for the buyer. The 10-year loan was financed through Fannie Mae.
Built in 2001, 2150 Arizona South features 289 one-, two- and three-bedroom apartments with an average unit size of 994 square feet. Community amenities include two swimming pools and spas, a fitness center, clubhouse, detached garages, barbecue area, playgrounds, a theater, game room and dog park.