TruAmerica Multifamily Acquires Park Tower Apartments In Chandler For $40.1M With Newmark Rep

The transaction involved the sale of the Park Tower Apartments, a multifamily asset located at 1283 West Parklane Boulevard in Chandler, AZ. The sale price was $40,100,000, with a total of 180 units, resulting in a price per unit of $222,778.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $40,100,000
• Buyer: TruAmerica Multifamily
• Seller: Univest
• Units: 180
• Price Per Unit: $222,778
• Brokers: Chris Canter, Brad Goff & Brett Polachek - Newmark
• Mortgage Broker: Mitch Clarfield - Newmark

Newmark facilitated the financing for the acquisition, securing Fannie Mae financing to assist in the transaction. The brokers representing the buyer were Chris Canter, Brad Goff, and Brett Polachek.