Sunrise Multifamily Group Acquires Multifamily Property In Chandler, Phoenix For $54M

The recently closed property transaction involves a multifamily asset located at 1750 W. Boston St. in Chandler, Phoenix, AZ. The property consists of 177 units with a total sale price of $54,000,000, resulting in a per unit price of $305,084. The total square footage of the asset is 143,379, leading to a price per square foot of $376.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $54,000,000
• Units: 177
• Price per Unit (PPU): $305,084
• Square Footage (SF): 143,379
• Price per Square Foot (PPSF): $376

The property was purchased by the Sunrise Multifamily Group from the seller, Geltman & Company. The transaction was facilitated by brokers Eddie Chang, Alon Shnitzer, Rue Bax, and Doug Lazovick, representing ABI Multifamily.