CB RICHARD ELLIS HANDLES $24.7 MILLION APT. SALE IN VALLEY OF THE SUN

CHANDLER, ARIZ. — CB Richard Ellis has negotiated the $24.7 million sale of Ocotillo Springs Apartments, a 272-unit luxury community located at 825 W. Queen Creek Road in Chandler. Built in 1998 and 98 percent occupied at the time of sale, Ocotillo Springs includes two resort-style swimming pools, a state-of-the-art fitness center and an upscale clubhouse. CBRE’s Tyler Anderson and Sean Cunningham represented the seller, a Boston-based private-equity firm; the buyer was Weidner Investment Services of Kirkland, Wash.