Cassidy Turley, a leading commercial real estate services provider in the U.S., today announced the sale of Broadstone Twin Fields, a 314-unit apartment community located at 2505 E. Williams Field Road in Gilbert, Ariz.
Broadstone at Twin Fields, LP (Alliance Residential), represented by Cassidy Turley Executive Managing Directors David Fogler and Steven Nicoluzakis, sold the Class A garden-style apartment community for $47.1 million ($150,000 per unit).
FRI San Tan, LLC (Farnam Realty, Inc.) acquired the apartment community.
“The buyer was attracted to Broadstone Twin Fields because of the overall quality of the asset and its close proximity to the San Tan Village Regional Mall,” said Mr. Fogler.
Built in 2008, Broadstone Twin Fields is located on the southeast corner of Williams Field Road and the Loop 202/San Tan Freeway, directly accessible to the Gilbert Spectrum employment district and the San Tan Village Regional Mall. The complex features one-, two- and three-bedroom units that range in size from 749 to 1,250 square feet and detached garages with private entries. Community amenities include two resort-style swimming pools, a clubhouse with a multimedia billiards room, a theatre room and athletic center, outdoor lounge with fireplace and grills and a children’s playground.