PHOENIX and TUCSON, Ariz. – July 5, 2018 – Berkadia today announced the recent $72.84 million in combined sales for Avilla Heights and Avilla Grace, two multifamily properties located in Chandler, Arizona. Senior Managing Director Art Wadlund and Director Clint Wadlund of Berkadia’s Tucson office teamed up with Senior Managing Directors Mark Forrester and Ric Holway and Senior Director Dan Cheyne of Berkadia’s Phoenix office to represent the seller, Arizona-based NexMetro Communities.
“The Avilla product concept is an exciting entry into the multifamily arena that has been well received by both residents and investors,” said Forrester.
Located at 2121 N. Grace Blvd., Avilla Grace sold for $45 million to an entity of Illinois-based The Inland Real Estate Group of Companies, Inc. The property offers one-, two- and three-bedroom floor plans, and the apartments are one-story with a low-density site plan. The units include private backyards with patios, ten-foot ceilings, granite countertops and full-size washer and dryer units. Residents of the gated community have access to a resort-style pool, a dog park and electric vehicle charging stations.
Avilla Heights sold for $27.84 million to a single purpose entity formed by California-based The Certe Group. Located at 255 W. Chandler Heights Road, the property offers one-, two- and three-bedroom floor plans with stainless steel energy-efficient appliances, patios and full-size washer and dryer units. The gated community provides a fire pit and lounge area, an electric vehicle charging station and a resort style pool.