CBRE Capital Markets’ Debt & Structured Finance team arranged a $18.3 million loan for the acquisition of Avilla Heights, a luxury 116-unit apartment complex in Chandler, Arizona.
Brian Cruz, Scott Peterson, and Bill Chiles of CBRE’s San Diego office secured the interest only, fixed rate loan through Fannie Mae, on behalf of The Certé Group, LLC, which is based out of San Diego.
“This is a great opportunity for Certé Group to purchase a newly built, unique asset in an attractive location within the city of Chandler,” said Mr. Peterson. “The property is made up of individual standalone rental homes with private backyards. Each unit has a single-family home feel with personal space and privacy, providing an incomparable option for tenants in the market.”
Avilla at Chandler Heights, is located at 255 E. Chandler Heights Rd., and was constructed in 2017 and 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. This complex is located on 9.52 acres (approximately 12-units per acre) and offers common amenities such as a swimming pool, spa, central greenbelt, fully gated access, and covered parking.
The project is located at the southwest corner of Chandler Heights Road and Arizona Avenue in proximity to both Loop 101 and the 202 Freeway. Avilla at Chandler Heights is also located near premier retail, schools and major employers.
