GILBERT, ARIZ. — Wood Partners has completed the sale of Alta Cooley Station, a mid-rise multifamily community within Cooley Station in Gilbert, southeast of Phoenix. A California-based private individual acquired the asset for $80 million, or $322,581 per unit.
Alta Cooley Station features 248 apartments, a swimming pool, spa, outdoor entertainment space, open-concept leasing office/clubhouse, micro-offices, a private conference room and workspaces. Apartments have expansive floor plans, nine- and 10-foot ceilings, extra-wide entryways, laundry closets with full-size washers and dryers, and a private patio or balcony. The average unit size is 957 square feet.
Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the transaction.