CBRE BROKERS $43.5 MILLION LUXURY APTS. SALE IN SE VALLEY OF THE SUN

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CHANDLER, ARIZ. — CB Richard Ellis has negotiated the $43.5 million sale of 512-unit Biscayne Bay located at 300 E. Warner Road in Chandler. Built in 2000, the luxury apartment community was 98 percent occupied at the time of sale. CBRE’s Tyler Anderson and Sean Cunningham represented Waterton Residential on behalf of the seller, Fund IX BB Chandler LLC, in the transaction; the buyer was Seattle-based Private Portfolio Group LLC. Biscayne Bay features a fully-equipped fitness center; an indoor racquetball court; a dry sauna and business center; billiards and theater rooms; two resort-style swimming pools with spas and sundecks; volleyball and basketball courts; a putting green; and barbecue and picnic areas.

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