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7/03/18
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San Diego-based The Certé Group LLC has acquired Avilla Heights, a luxury 116-unit apartment complex in Chandler, AZ. Although we don’t have the purchase price, we do know that the deal was financed with an $18.3 mil Fannie Mae acquisition loan.
Constructed in 2017, Avilla Heights is situated on 9.52 acres at 255 East Chandler Heights Rd, at the southwest corner of Chandler Heights Rd and Arizona Ave, in proximity to both Loop 101 and the 202 Fwy. Avilla at Chandler Heights is also located near premier retail, schools and major employers.
The property consists of 116 single-story units, featuring private backyards in 101 individual buildings. All two- and three-bedroom units are stand-alone buildings and the one-bedroom units are in duplex configurations. The complex features common amenities such as a swimming pool, spa, central greenbelt, fully gated access, and covered parking.
Brian Cruz, Scott Peterson, and Bill Chiles of CBRE Capital Markets’ Debt & Structured Finance team secured the interest-only, fixed-rate loan. Peterson noted that each unit has a single-family home feel with personal space and privacy, providing an incomparable option for tenants in the market.”
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