Chandler Apartments Sold for $74 Million
Country Brook Apartments located in the highly sought after Southeast Valley of Great Phoenix was purchased by a California-based investor for $74,000,000. MG Properties Group of San Diego acquired the 396-unit community located at 4909 W. Joshua Blvd in Chandler. Cindy Cooke and Brad Cooke of Colliers International in Greater Phoenix handled the marketing and sale transaction.
“Country Brook’s dynamite location, where multiple Fortune 500 companies reside, created a very strong interest from investors. We were grateful to have represented Standard Portfolios in their disposition of this one-of-a-kind asset, as well as their prior acquisition,” says Cindy Cooke, senior executive vice president of Colliers International in Greater Phoenix.
The community features three resort-style pools with outdoor TVs and shade sails. The two whirlpool spas, gas BBQs, picnic area and ramadas are surrounded by mature lush landscaping. Country Brook offers large spacious floor plans, some as large as 1,201 square feet with average being 936 square feet with washer dryers in all units.
Positioned within a great, infill location the community is situated across the street from Intel, which employs more than 11,000 people in Chandler. Residents at Country Brook enjoy the adjacent Desert Breeze Park and Lake, 50 acres of recreation including a train rides for the kids and a classic merry go round. The community is close walking distance to Kyrene Schools, one of the top school districts in Greater Phoenix.
“We were impressed with how well MG understood the submarket and their vision for Country Brook. It was a seamless closing and we look forward to working with MG in the future” says Brad Cooke.