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.