Pillar at Pecos Springs LLC, which has other apartment holdings in Phoenix, Scottsdale and Glendale, picked up the garden-style complex at 875 West Pecos Rd. in Chandler for $28.7 million, outbidding at least four other prospective buyers to take the title. Seller TCR Pecos Springs Holdings LP of Scottsdale, is a subsidiary of Trammell Crow Residential of Atlanta.

Hendricks & Partners' Bob Bruno tells GlobeSt.com that the buyer, which owns about 3,000 units in the Phoenix market, opted to purchase the complex because it has no class A holdings in the southeast Valley. "He wanted a class A building in a class A location," Bruno says. In keeping with Trammell Crow Residential trades, the name will be changed to Pillar at Pecos Springs to reflect the new ownership.

Located on the southeast corner of Alma School and Pecos roads near a freeway exchange and just miles from the Chandler Fashion Center Mall, Chandler Regional Hospital and the Wells Fargo campus, the two- and three-story buildings feature 103 garages along and amenities like several swimming pools and spas. The complex was more than 90% leased at sale time. Bruno and Mark Forester, also with Hendricks & Partners, represented both parties in the sale.