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March 17, 2018
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Continental Realty Advisors and GTIS Partners Acquire 240-Unit Residential Asset in Arizona


Continental Realty Advisors Ltd (CRA) and GTIS Partners have teamed up in the acquisition of San Palmas at Mission Park, a 240-unit residential property in Chandler, AZ, in an off-market transaction. The price was not disclosed.

Originally built by Mark Taylor Residential in 1998, the garden-style apartment community sits on 13.92 acres at 1111 N. Mission Park Blvd, close to Chandler Fashion Center and Hwy 101. San Palmas at Mission Park is close to major employers, including Intel, Wells Fargo, Bank of America, Verizon, PayPal, Orbital ATK and JP Morgan.

The property includes 30 two-story buildings with generous amenities, including controlled access, a clubhouse, fitness center, volleyball court and swimming pool. The partnership plans to renovate the one-, two- and three-bedroom units, and update the property’s amenities.

San Palmas at Mission Park is the second joint venture between GTIS Partners, out of New York, and Denver-based CRA, following the acquisition of Canyon Reserve in Denver last summer. Company execs involved in the transction included Robert Ireland, Director of Acquisitions for CRA, and David Pahl, Managing Director, GTIS Partners.

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