CHANDLER, AZ—Tech-centric multi-family locations attract tech workers and the Lakeside Apartment Homes exemplifies that phenomenon. The community, located in the Price Technology Corridor, recently sold for $22.3 million. There are 230 total units, of which 212 are rentals.

The Lakeside closing marks the sixth ABI Multifamily-brokered transaction during the past 18 months with the California-based buyer, Wood River Properties, a multifamily investor with units across the Phoenix Metro. This sale also marks the second ABI brokerage transaction between Wood River Properties and the seller, Security Properties Inc. In 2014, ABI transacted 151 unit-Miramonte Apartments in Scottsdale, AZ between the same two parties. Security Properties Inc. is a real estate enterprise with ownership responsibilities of more than 1,300 units under ownership/management across the Phoenix Metro.

"Location, location, location is the first, and ultimate, rubric for basing real estate transactions and Lakeside has it all," states Alon Shnitzer, senior managing partner at ABI Multifamily and lead broker for both parties in the transaction. "Lakeside is a truly unique project in that, one, it's juxtaposed to the man-made Andersen Springs Lake (not a lot of lakefront property in the Phoenix Metro) and, two, it sits at the northern end of the Price Technology Corridor, which is one of the most robust business corridors in the entire Phoenix Metro, often referred to as the Silicon Valley of Phoenix, which has witnessed 2,000+ job openings within the last year alone!!!"