**Stockdale Capital Partners Acquires Chandler Multifamily Property for $109 Million**
Stockdale Capital Partners has acquired Avant at Fashion Center, a 355-unit apartment community located at 555 Galleria Way in Chandler, Arizona. The purchase price was $109 million, equating to approximately $307,042 per unit. The property was 94% occupied at the time of the sale. The seller, Starlight Capital, had previously purchased the asset in 2018 for $84 million.
Avant at Fashion Center was built in 2016 and is conveniently situated near the Chandler Fashion Center. Rental rates at the property ranged between $1,444 and $4,014.
Amenities at the community include:
– A resident lounge with a flat-screen TV and seating
– Conference room equipped with a flat-panel TV and printer
– Clubroom featuring a demonstration kitchen and complimentary coffee bar
– Fitness center with spin bikes, concept rowers, and a hoist motion cage
This acquisition follows Stockdale’s October 2024 purchase of The Quincy at Kierland, which was acquired at a similar price point.
