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Zach Goldman & John Gochberg Of TGM Acquire Ocotillo Bay Multifamily Community In Chandler For $90.5M

Property Image
SOLD
$90,500,000
Sean Cunningham
Asher Gunter
Matt Pesch
+ 1

Arizona

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MultiFamily
Sold 05/07/2025
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Property Image
SOLD

Zach Goldman & John Gochberg Of TGM Acquire Ocotillo Bay Multifamily Community In Chandler For $90.5M

1889 West Queen Creek Road

See Similar Deals
MultiFamily
Sold 05/07/2025
Sean Cunningham
Asher Gunter
Matt Pesch
+ 1
the dealplayerscompscontact
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Summary

ARIZONA
Asset Type:MultiFamily
Transaction Type:Sale

The sale involved a multifamily community located at 1889 West Queen Creek Road, Chandler, AZ. The transaction was finalized for a total of $90,500,000, encompassing 296 units, which translates to a price per unit of $305,743. The property features resort-style amenities and Spanish architecture, signifying a comprehensive asset in the multifamily market.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $90,500,000
  • Address: 1889 West Queen Creek Road
  • Market: Chandler, AZ
  • Units: 296
  • Price Per Unit: $305,743

The buyer of the property is Zach Goldman & John Gochberg, representing TGM. The brokers involved in the transaction include Asher Gunter, Austin Groen, Matt Pesch & Sean Cunningham from CBRE, who also negotiated the sale. This transaction marks TGM’s return to the Phoenix market.

Players

Matt Pesch
CBRE
Matt Pesch
15 deals$1.2B volume
BROKER
Sean Cunningham
CBRE
Sean Cunningham
13 deals$1.3B volume
BROKER
Asher Gunter
CBRE
Asher Gunter
14 deals$1.2B volume
BROKER
Austin Groen
CBRE
Austin Groen
13 deals$1.1B volume(602) 735-1706
BROKER

Details

SOLD
IMAGE: 05/07/2025 ADDRESS: 1889 West Queen Creek Road MARKET: Chandler, AZ ASSET TYPE: MultiFamily BUYER: Zach Goldman & John Gochberg - TGM BROKERS: Asher Gunter, Austin Groen, Matt Pesch & Sean Cunningham - CBRE SALE PRICE: $90,500,000 UNITS: 296 ~ PPU: $305,743 NOTE: CBRE negotiated the sale of Ocotillo Bay, a 296-unit multifamily community in Chandler, Ariz., to TGM for $90.5 million, marking TGM’s return to the Phoenix market. The lakefront property features resort-style amenities, Spanish architecture, and will undergo renovations to enhance value.

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Deal Type
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Operating Expenses (Annual)
Net Operating Income (NOI)

$4,826,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$321,527.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$429,016.17
Annual Debt Service$5,148,194.05