Certé Group Snags $18M for AZ Asset
CBRE arranged the financing for Avilla Heights, a 116-unit luxury community in Chandler.
CBRE’s San Diego office secured the interest only, fixed-rate loan through Fannie Mae.
“This is a great opportunity for Certé Group to purchase a newly built, unique asset in an attractive location within the city of Chandler,” Scott Peterson, CBRE’s senior vice president, said. “The property is made up of individual standalone rental homes with private backyards. Each unit has a single-family home feel with personal space and privacy, providing an incomparable option for tenants in the market.”
Joining Peterson on the CBRE Capital Markets’ Debt & Structured Finance team were Brian Cruz and Bill Chiles. In February, the same CBRE team facilitated a $56.9 million loan for Strata Equity Group to acquire three communities in North Carolina, South Carolina and Kentucky.
Located at 255 East Chandler Heights Road, Avilla Heights was built last year and consists of two- and three-bedroom units in single-story, stand-alone buildings. There are also one-bedroom units in duplex configurations. In total, the property has 101 individual buildings with private backyards.
The property is situated on 9.52 acres and features amenities such as a swimming pool, spa, central greenbelt, fully gated access and covered parking.
Avilla Heights is nearby both Loop 101 and the 202 Freeway and is close to premier retail, schools and major employers.
The Certé Group manages nearly 3,000 units located in San Diego, San Bernardino and Orange Counties, as well as throughout Phoenix.