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12/22/21
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Davlyn Investments has acquired Trevi, a 290-unit, Class A luxury multi-family community in Chandler, AZ, for $114.385 mil ($394.4k/unit).
Constructed in 2005, Trevi features nine- to 12-foot ceilings, central heating and air conditioning, full-size in-unit washer and dryer, walk-in closets, two resort-style pools, state-of-the-art fitness center, and 118 garages with two-car tandem spaces, and a top-notch amenity package. The property boasts exceptional architectural features such as curved walls, stone applique, spiral staircases, accent banding, a scenic walking promenade and courtyard fountains.
Trevi is located a few miles from Intel’s campus, which currently supports 11,000 employees, making Intel the largest employer in the submarket. Chandler has seen a 16.8% population growth since 2010. Chandler is near South Mountain which offers multiple popular hiking trails and some the best outdoor recreational activities in the region.
Charles Steele, John Cunningham, and Mike Higgins with JLL represented the seller in the deal. Debt was sourced by Charles Halladay and Rick Salinas, also with JLL, and provided by New York Life.
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