May 25, 2017
Seattle-based Security Properties acquired Andante, a 576-unit multifamily complex in Ahwatukee, AZ, an affluent suburb south of Phoenix. The apartment asset was acquired from Chicago-based Waterton for $85.25 million, the biggest deal so far in 2017.
CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch represented the undisclosed seller. Gunter said “Andante is a well-maintained suburban multifamily asset offering tremendous value.”
Built in 2000, the property is located at 15801 S. 48th St., near Chandler Boulevard and Interstate 10. The highly desirable, amenity-rich submarket of Ahwatukee includes top-performing schools, and has high barriers-to-entry.
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