Class A Digs Have Intel as a Neighbor

Country Brook is a 396-unit low-density asset located at 4909 W. Joshua Blvd.

CHANDLER, AZ— Country Brook , a 396-unit class-A apartment community, was built in three separate phases in 1986, 1993 and 1996. The Bascom Group of Irvine, CA acquired the multifamily asset in 2013. Extensive exterior renovations and repairs were completed by Bascom, including the balconies, landings, roofs, exterior painting, resurfaced parking lots, upgraded leasing center, new gas barbecues, pool enhancements and a fitness center remodel. As its first acquisition in metro Phoenix in five years,  Standard Portfolios LLC , a private investment company out of Arcadia, CA, purchased the asset for an undisclosed price. The seller was BAZV Country Brook LLC of Scottsdale, AZ, a company formed by The Bascom Group. Current occupancy is 95%. Country Brook is a 396-unit low-density asset located at 4909 W. Joshua Blvd. on 23 acres and consists of 31 garden-style two-story buildings and a leasing center. With 381,333 net rentable square feet, the condo-style apartments include 134 one-bedroom, 182 two-bedroom and 80 three-bedroom apartments, ranging from 695 square feet to 1,210 square feet. Colliers International in Greater Phoenix negotiated the sale on behalf of BAZV. The seller entity was represented by Cindy Cooke , senior executive vice president, and Brad Cooke , senior vice president, with Colliers’ Phoenix office. “Country Brook provides Standard Portfolios with a superior class-A asset, with the opportunity to add value through further interior and exterior upgrades and potential rent increases,” said Cooke. “Standard Portfolios recognized the strength of the area, which offers an exceptionally strong employment base, an average median income of $90,000 within a one-mile radius, and the location of Intel across the street. Intel is one of Arizona’s largest employers, with over 11,000 employees.” Amenities include three resort-style pools with televisions and shade sails, fitness club, two whirlpool spas, picnic area and ramadas, clubhouse with business center, 804 parking spaces and four detached garages. Country Brook is in proximity to the Loop 101, Loop 202 and I-10 freeways, providing easy access to the Phoenix metro area. The complex is also adjacent to Desert Breeze Park , one of the largest regional parks in the Southeast Valley with a carousal, lake, tennis courts and baseball fields spanning 4 acres. Cooke tells GlobeSt.com: “The strong multifamily market in Phoenix continues to see vibrant interest in properties with the option of added value such as Country Brook. Located in the Chandler submarket, Country Brook is a highly desirable asset.”