Chandler Apartment Community Lands New Owner

Cushman & Wakefield has found a new owner for a recently built apartment community in Chandler, Ariz.

Chandler, Ariz.—A $28.7 million apartment community in Chandler, Ariz., has found a new owner under the brokerage of Cushman & Wakefield.

Dubbed Elevation Chandler, the apartment community is located within the East Valley area of metro Phoenix at 2300 West Pecos Road. It was developed by Vedura Residential, and was acquired  by Olympus Property of Fort Worth, Texas for $176,074 per unit.

Elevation Chandler

Elevation Chandler

The deal was handled by C&W’s team of David Fogler and Steven Nicoluzakis, both executive managing directors . “This asset attracted strong buyer attention because of its proximity to Chandler Fashion Center and the Price Road Corridor, which is home to some of the biggest employers in the Phoenix area,” Fogler said.

The 163-unit apartment community offers one- and two-bedroom units with amenities such as granite countertops, European-style cabinets, above standard ceiling heights and dual-pane glass. Additionally, residents have access to an open-air clubhouse, swimming pool, outdoor kitchen and a fitness center.