Olympus Property Acquires Aiya Multifamily In Gilbert, AZ For $112M

Olympus Property has acquired Aiya, a 360-unit multifamily community in Gilbert, Arizona. The property, located at 2350 South Wade Drive, was sold by Wolff Co for a total sale price of $112 million, which translates to $311,111 per unit.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $112,000,000
• Address: 2350 South Wade Drive, Gilbert, AZ
• Market: Gilbert, AZ
• Buyer: Olympus Property - Chandler Wonderly
• Seller: Wolff Co - Jay Petkunas
• Brokers: Cliff David & Steve Gebing - Institutional Property Advisors
• Mortgage Brokers: Brian Eisendrath - Institutional Property Advisors
• Units: 360
• PPU: $311,111

The transaction was facilitated by brokers Cliff David and Steve Gebing from Institutional Property Advisors. Brian Eisendrath, also from Institutional Property Advisors, served as the mortgage broker for the deal.