Boston Square Apartment Homes | 1750 West Boston Street, Chandler, AZ 85224 | 177 Units | $54,000,000 | $305,085 Per Unit | $376.62 Per SF
PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact:
Corporate Headquarters
ABI Multifamily
Phone: 602.714.1400
Company Website: www.ABImultifamily.com
Phoenix, AZ. (December 27, 2021) – ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $54,000,000 / $305,085 Per Unit / $376.62 Per SF sale of Boston Square Apartment Homes, a 177-unit multifamily apartment community located in Chandler, Arizona. ABI Multifamily's Phoenix-based Institutional Apartment Group - Alon Shnitzer, Rue Bax, Eddie Chang, and Doug Lazovick facilitated the transaction.
Boston Square Apartment Homes consisting of 177 garden- & townhome-style units, completed in 1985. The property is constructed of wood frame and majority of the property includes two-bedroom units (77%), with 61% of those being townhome-style units. All one bedroom, two-bedroom / one-bathroom, and two-bedroom two-bathroom units are single-story. The community amenities include a dedicated rental office, clubhouse, fitness center, swimming pool, playground and sand court.
Residents enjoy direct access to all areas of the Phoenix Valley by way of the San Tan Freeway (Loop 202) and Arizona State Route 101 (Loop 101). The property is located near the Price Corridor where several major employers such as: Intel, Safelite, PayPal and Wells Fargo have large facilities; and the Arizona State University Research Park where the following major employers also have facilities: GoDaddy, Amazon, Edward Jones and Walgreens. Furthermore, Boston Square Apartment Homes is nearby the Chandler Municipal Airport, one of the nation’s 50 busiest general aviation airports.
The Downtown Chandler area offers numerous dining, entertainment and recreational activities minutes from the community. The evening vibe in Downtown Chandler is led by local dining favorites such as: The Brickyard Downtown, SanTan Brewing Company and El Zocalo Mexican Grill. One of the most historical resorts in the valley is nestled in Downtown Chandler, The Crown Plaza Chandler Golf Resort which is adjacent to the public San Marcos Golf Course which was established in 1913 and recently received a multi-million-dollar renovation. Boston Square Apartment Homes is also located near the Chandler Fashion Center, boasting more than 185 stores, 20-plus restaurants and a variety of entertainment outlets, as well as the SanTan Village Marketplace, which has 25-plus retailers and restaurants.
The buyer, Sunrise Multifamily, is based in Arizona.
ABI Multifamily (https://www.abimultifamily.com/) is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. With offices in Phoenix, Tucson, Sacramento, and San Diego, the experienced advisors at ABI Multifamily have completed billions of dollars in sales and thousands of individual multifamily transactions. ABI Multifamily incorporates a global approach with regional real estate expertise to successfully complete any multifamily transaction, regardless of size and complexity.