Institutional Property Advisors, a division of Marcus & Millichap, dedicated to serving the company’s institutional clients, has announced the sale of Zaterra, a 392-unit apartment complex in south Chandler, according to a news release.

The price was $137.5 million, or $350,765 per unit. The identities of the buyer and seller weren't disclosed.

Zaterra is near the Price Corridor, Chandler Airpark and the Ocotillo master-planned community, and isn't a far drive from downtown Chandler.

The Price Corridor includes Intel’s Ocotillo campus, Northrop Grumman, Wells Fargo, ASML, Bank of America and several tech firms. Shopping, dining, and entertainment are close by at mixed-use developments Overstreet, New Square, and One Chandler.

Completed in 2023 on 22 acres, Zaterra is a two- and three-story, garden-style complex with what the news release calls a low-density site plan and unit size of 1,043 square feet. The property’s walk-up layouts and garages emulate condominium-style living.

Community amenities include two swimming pools with sundecks, a creative suite with a large conference room and individual workspaces, 24-hour fitness center, and a yoga lawn.

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