CHANDLER, ARIZ. — PrivatePortfolio Group LLC has purchased the 383-unit Parcland Crossing apartment complex in Chandler for $65 million. The community is located at 800 W. Willis Road, just south of the 202 Freeway.
Parcland is situated within a five-mile radius of two Intel campuses, in addition to the offices of Bank of America, Wells Fargo, Chandler Regional Medical Center, eBay/PayPal, Verizon, Microchip, Freescale Semiconductor, Orbital Sciences, EDMC and Avnet.
The community was built in 2013. It was 93 percent leased at the time of sale.
CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch represented the seller, Alma School Apartments LLC, in this transaction. The LLC is a joint venture between Mark-Taylor Inc. and Kitchell Development Co.