Stockdale Acquires Phoenix Community for $110M
It's Stockdale's second $100 million-plus purchase in the metro within a three-month period.
Los Angeles-based Stockdale Capital Partners is expanding its multifamily holdings in Greater Phoenix with the $110.3 million acquisition of Avant at Fashion Center, a 335-unit luxury mid-rise apartment community located in in Chandler, Ariz., southeast of Phoenix.
Stockdale didn’t disclose the seller, but Starlight Investments is listed as the most recent owner of the 11.4-acre asset, according to Yardi Matrix data. Starlight purchased the property in February 2018 for $84 million from Alliance Residential Co., the same source shows. Starlight refinanced the asset in April 2022 with a $95 million, three-year loan originated by QuadReal Finance, Yardi Matrix reported.
Steve Gebing and Cliff David of Institutional Property Advisors represented the seller in the transaction.
It is Stockdale’s second recent purchase in the metro. In November, the real estate private equity firm acquired Quincy at Kierland, a 266-unit luxury community in Scottsdale, Ariz., in a $110.3 million all-cash deal from Embrey Partners. The firm also recently obtained a $72.3 million, five-year, floating-rate permanent loan from Nuveen for the property.
Stockdale’s new asset
Located at 555 S. Galleria Way, Avant at Fashion Center was completed in 2017. The property, which has seven three- and four-story buildings, was 94.3 percent occupied at the time of the sale.
The asset features a mix of studio, one- and two-bedroom floorplans ranging in size from 587 to 1,194 square feet, with an average of 892 square feet. Rents range from $1,278 to $2,039 with an average of $1,646, according to Yardi Matrix.
Apartments feature smart-home technology, tile backsplashes, granite countertops, contemporary lighting, stainless steel appliances, gas cookstoves, dark wood cabinetry, wood-style plank flooring, vaulted ceilings, walk-in closets and in-unit washers and dryers.
READ ALSO: Seen at the MHN Excellence Awards
Community amenities include a clubhouse with demonstration kitchen and a complimentary coffee bar, a two-level fitness center, a resident lounge with flat-screen television and seating, a game room with pool and shuffleboard tables as well as a conference room. Other resort-style amenities include a large swimming pool with a deck, loungers, cabanas, covered social areas and barbecue grilling stations.
The property has a total of 615 parking spaces with covered parking available for an additional monthly fee.
Phoenix’s fiery market
Avant at Fashion Center is located in the heart of the Price Road Corridor, one of the top employment hubs in the greater Phoenix metro. Residents can take advantage of numerous retail amenities including the Chandler Fashion Center, the second largest mall in the metro. It is located one block from the residential property.
The property has immediate access to the interchange at Loop 202 and Loop 101, two of the most traveled throughfares in the Phoenix metro. They provide residents quick, convenient access to key employment hubs through the East Valley, including Chandler, Tempe, Scottsdale and downtown Phoenix.
Multifamily sales in Phoenix sales were hot last year, when 86 communities with a total of 17,798 units changed hands for $4.3 billion, according to Yardi Matrix data. In 2024, the metro saw $3.7 billion in sales, with 69 assets totaling 15,835 apartments were traded. The metro also ranked first in the U.S. multifamily transaction volume in the first half of 2025.
