Chandler Luxury Apartments Sell for $137.5M

A major multifamily deal just hit Chandler—here’s what real estate investors need to know:

💰 Big Deal Stats

  • Buyer: Ares Management
  • Seller: P.B. Bell Companies
  • Sale Price: $137.5 million all-cash
  • Units: 392 (Price per unit: $350,765)
  • Year Built: 2021
  • Land Area: 22 acres

📍 Why This Matters

  • One of the largest luxury apartment sales in the Valley this year.
  • Chandler is a high-barrier market with limited new supply—only 9 multifamily projects completed since 2020.
  • Zaterra’s lower density (48% less) vs. similar properties gives it a long-term competitive edge.

🌆 Location Perks

  • Near Downtown Chandler and Ocotillo community
  • Close to entertainment hubs: Overstreet, New Square, and One Chandler
  • Median rent in Chandler: $1,567

📊 Market Insight

  • The deal follows a trend of institutional investment in Phoenix-area multifamily real estate.
  • Strong rental demand in Chandler despite softening elsewhere keeps luxury assets like Zaterra attractive.