**Country Brook Apartments in Chandler Sells for $109.5M**
Country Brook Apartments, a 396-unit multifamily community located in Southwest Chandler, Arizona, has been sold for $109.5 million.
The transaction was brokered by Cindy Cooke, Brad Cooke, Chris Roach, and Matt Roach from the Arizona office of Colliers. Financing for the acquisition was arranged by Luke Donahue and Patrick O’Donnell of Colliers Mortgage.
Colliers Mortgage facilitated a non-recourse, full-term interest-only acquisition loan of $76.65 million. The loan was fixed-rate at 4.97% and was locked in at the time the purchase and sale agreement was signed.
Located at 4909 W. Joshua Blvd., Country Brook Apartments is a garden-style multifamily development spread over approximately 16.5 units per acre. Built in phases beginning in 1992 by Evans Withycombe, the community consists of 32 buildings and offers an average unit size of 963 square feet.
Amenities at the property include three resort-style swimming pools, two spas, poolside ramadas, an alfresco kitchen with outdoor TVs, a 24-hour fully equipped fitness center, 24/7 access package lockers, and covered parking.
Country Brook Apartments has maintained an average occupancy rate of 95.6% over the past 36 months, underscoring its strong performance and desirability in the Chandler rental market.
