CHANDLER, ARIZ. — Institutional Property Advisors (IPA) has negotiated the sale of Alta Chandler at The Park, a 291-unit complex in the Phoenix suburb of Chandler. Wood Partners sold the asset to Olympus Property for $94.5 million. Steve Gebing and Cliff David of IPA represented the seller and procured the buyer in the acquisition.
IPA Capital Markets arranged $52 million in acquisition financing on behalf of the buyer. Brian Eisendrath, Cameron Chalfant, Jake Vitta and Jesse Zarouk of IPA Capital Markets arranged the loan, which features eight years of interest-only payments.
Alta Chandler at The Park offers units with open-concept layouts, laundry closets with full-size or stackable washers and dryers, nine-foot ceilings and separate den or loft quarters. Select units have direct-access garages. Amenities include a leasing office and clubhouse, convenience market, sky lounge, fitness center and private multi-purpose fitness room.