CHANDLER, ARIZ. — NorthMarq has negotiated the sale of Soleil Apartments, a multifamily property located near Dobson and Ray roads in Chandler. Phoenix-based 3rd Ave Investments acquired the asset from Soleil Chandler Apartments LLC for $40.1 million.
Built in 1995, Soleil Apartments features 188 units in a mix of one-bedroom, two-bedroom and three-bedroom layouts. The buyer plans to upgrade the unit interiors and exterior common areas to provide current and future residents with more modern amenities.
Trevor Koskovich, Jesse Hudson and Bill Hahn of NorthMarq’s Phoenix Investment Sales team represented the buyer and seller in the deal. James DuMars and Griffin Martin of NorthMarq’s Phoenix debt/equity team arranged a $33.2 million NXT loan for the acquisition.