November 5, 2020
Los Angeles-based PCCP acquired the District at Chandler, a 340-unit, four-story apartment complex in Chandler for $95 million. The seller was an entity tracing to Houston-based Kaplan Management Company and The Carlyle Group.
The 8.7-acre site at 2222 W. Frye Rd. houses nine buildings totaling more than 400,000 square feet that delivered in 2019. The property is located in the heart of Chandler’s burgeoning Price Corridor and near Chandler Fashion Center.
The floorplan mix includes one- and two-bedroom units with such features as smart-home elements and chef-inspired kitchens. The extensive list of community amenities include a resort-style pool, electric car charging stations, a spin studio, professional-level golf, baseball and soccer sports simulator, a health club, an outdoor culinary center and grill station, collaborative co-working space as well as private offices, a hospitality center, cyber and media lounges, a gaming arcade and professional poker table.
Great American Insurance Group provided $63.5 million in new debt for the deal.
For comments, questions or concerns, please contact Dennis Kaiser
*Photo Courtesy of District at Chandler