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CHANDLER, ARIZ. — TruAmerica Multifamily has purchased the 290-unit Trevi apartments in Chandler for $47.5 million. The Class A community is located at 635 S. Ellis Street.
Trevi was built in 2005. It is currently 97 percent occupied.
TruAmerica leveraged the acquisition with $34.2 million in agency debt financing secured through Berkeley Point Capital. Mitch Clarfield originated the loan.
This is TruAmerica’s second acquisition in the Greater Phoenix area. The purchase was made in partnership with an institutional investor. The seller was Alliance Residential Company.