Real estate private equity firm Stockdale Capital Partners (“Stockdale”) has acquired Avant at Fashion Center, a 335-unit luxury mid-rise apartment community in the Phoenix submarket of Chandler, AZ for $110.25 million. 

Avant at Fashion Center is located at 555 South Galleria Way in the heart of the Price Road Corridor, one of top employment hubs in the greater Phoenix metro. According to The City of Chandler, the Price Road Corridor accounts for 749 total businesses and more than 42,000 jobs. Residents can also take advantage of numerous retail amenities including the Chandler Fashion Center which is located only a block away.  With immediate access to the interchange of Loop 202 and Loop 101, two of the most traveled thoroughfares in the Phoenix MSA, residents benefit from quick, convenient access to key employment hubs throughout the East Valley, including Tempe, Scottsdale, Chandler, and downtown Phoenix. 

“Chandler is one of the strongest employment markets in Arizona while also offering a high quality of life for its residents,” said Stockdale Managing Director Samuel Palmer, who along with Managing Director Chase Jensen leads the company’s multifamily platform. Strategic, modest upgrades will allow us to position the asset competitively against newer, more expensive properties in the area and capitalize on current market demand.” 

“This area is experiencing a rapid supply cutoff, unlike much of the Phoenix Valley where substantial new inventory is still on the way, which positions this location more favorably,” added Jensen. 

Built in 2017, Avant at Fashion Center features a mix of studio, one-, and two-bedroom units housed in seven, three- and four-story buildings on a 11.4-acre site.  The units offer luxury finishes including vaulted ceilings, designer baseboards, French door refrigerators with water and ice dispensers, dark wood cabinetry, and in-unit washers and dryers. Residents also enjoy a wide array of resort style amenities including a large swimming pool with an expansive deck featuring poolside loungers and cabanas, covered social areas, stainless steel barbecue grilling stations, a resident lounge, and a two-story fitness center. 

IPA’s Steve Gebing and Cliff David marketed the property for sale on behalf of the seller. 

American Landmark Apartments (“American Landmark”), one of the nation’s leading multifamily owner-operators, has acquired Boulders Lakeview, a newly constructed, 212-unit Class ‘A’ apartment community located in North Chesterfield, Virginia within the Richmond MSA. Built in 2023, the property is American Landmark’s third property in the Virginia market and further expands the firm’s growing presence in the Mid-Atlantic region.

Los Angeles, Calif. – A joint venture of PCCP and Alliance Residential Company has acquired Luxor Bala Cynwyd, a Class A, 173-unit, multifamily community with 8,200 square feet (sf) of ground-floor retail space. The property is located at 9 Presidential Boulevard in Bala Cynwyd, PA, an affluent and infill submarket of Philadelphia approximately six miles west of Center City via I-76 which is less than a mile away. The property was built in 2021 by the seller, Westrum, a local developer. 

Stuart, FL – PCCP, LLC has provided a $41.25 million senior loan to The United Group of Companies, Inc. (“United Group”) for the refinance of The Sovana at Stuart, a Class A, 182-unit resort-style Active Adult community located at 1900 NW Federal Highway in Stuart, Florida, directly off US 1.

Fogelman Properties (Fogelman), one of the country’s largest, privately-owned and fully integrated multifamily investment and property management companies, is pleased to announce the acquisition of Inkwell Greenhouse (“Inkwell”), a 301-unit apartment community in Katy, Texas.