Cassidy Turley announced the sale of 180-unit Park Tower apartments at 1283 W. Parklane Blvd. in Chandler, Ariz. Clear Sky Park Tower LP (dba, Clear Sky Capital Inc) purchased the property for $15.2M ($84,444 per unit) from Park Tower LLC. Cassidy Turley Executive Managing Directors David Fogler and Steven Nicoluzakis negotiated the transaction on behalf of the buyer.
“Park Tower was owned by the previous ownership entity for over 20 years,” according to Mr. Nicoluzakis. “Clear Sky saw significant opportunity to unlock value with updates to the property.”
Clear Sky plans to renovate common areas and update the interiors of the units.