Connect Phoenix Commercial Real Estate News |
Dallas-based NexPoint Residential Trust acquired The Fairways Apartments in Chandler from an entity connected with Bay Area-based Virtu Investments for $84.4 million. The 352-unit apartment complex is comprised of 35, two-story buildings built 1985 on nearly 18 acres at 777 W. Chandler Blvd.
The property near the San Marcos Golf Club includes a floorplan mix of 56 one-bedroom/one-bath units, 136 two-bedroom/one-baths, 116 two-bedroom/two-baths, and 44 three-bedroom/two-baths with in-unit washers and dryers. The gated community includes two pools and a spa area with resort style amenities, a state-of-the-art fitness center, the largest dog park in Chandler with an agility course, and a cybercafé coffee bar.
KeyBank Real Estate Capital delivered $46,464,000 in new debt for the deal. IPA’s Cliff David and Steve Gebing advised on the sale.
View Source: https://www.connect.media/nexpoint-nabs-chandler-apartments-for-84m/
