Wednesday, September 26, 2012

Weidner Residential Purchases Dobson Towne Center In Chandler

VIZZDA -- September 26th, 2012 -- DOBSON TOWNE CENTER - W. Dean Weidner of Weidner Apartment Homes has purchased the Dobson Towne Center apartment complex located at 1817 N Dobson Road, or the Southeast corner of Dobson and Warner Roads. 

The 240-unit 2-story project consists of 19-buildings built in 2000 on 15.72 acres zoned with a custom PAD. The units are currently 92% occupied and Weidner is managing the property.
The complex transacted for $27,300,000 or $113,750 per door, and Fannie Mae provided a new loan of $20,700,000 through Berkeley Point Capital who acted as the loan originator. The Archon Group was the seller, and previously acquired the property June 14, 2005 for $13,062,500 or $55,427 per door and $18,300,000 new debt with GE Capital Finance.  Prior debt released and $10,500,000 new debt was issued on September 4th, 2009 with Freddie Mac, with Capmark Bank as loan originator.

Daniel Alpers
Director Planning & Municipal Solutions

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