Chandler apartments are a southeast Valley rent roll: downtown along Arizona Avenue, garden product in Ocotillo and south Chandler, and communities along the Loop 202. Those are not the same occupancy story. Capital Market Funds originates Fannie Mae, Freddie Mac, HUD, life company, or bridge. We do not staff a Chandler branch.
The two published Chandler originations are office. One is a 2019 bridge on a Class A building of about 83,178 square feet in the Price Road Corridor, $14,000,000. The other is a 2022 owner-user office with a coworking tenant, $15,600,000. Neither is multifamily, and neither is labeled Fannie Mae. Harvard Court remains Phoenix. Chandler keeps both office cards.
Price Road is the wrong asset
Sponsors who know the Price Road bridge sometimes ask for a Chandler apartment quote as if that $14,000,000 were a comparable. It is a bridge on an office building. A stabilized Chandler community is a new file. We are not a Fannie Mae DUS lender, and we do not claim MAP or LEAN approval on HUD.
South Chandler lease-up near the SanTan Freeway is bridge until the rent roll is a permanent story, or HUD 221(d)(4) with an approved lender when the rehab or new construction truly belongs in that program. We do not shop a generic construction loan.
Chandler apartments are not Gilbert
Gilbert starts on the other side of the city line. A Gilbert address does not borrow Chandler’s office dollars, and a Chandler apartment does not become a Gilbert loan because the trade area overlaps. Send the street.
Downtown Chandler walkable product and a 1990s garden community on the west side of the city will not clear the same proceeds. The form should say which one it is.
Chandler multifamily: What an apartment file is underwritten against
- South and east of the older Valley
- Chandler’s commercial stock is its own East Valley pattern: office along Price, plus retail and apartments that followed housing. Gilbert is east. Tempe is north. Those cities do not lend Chandler their tombstones. Source: City of Chandler.
- Occupancy versus the program
- Stabilized apartments can be Fannie Mae, Freddie Mac, HUD 223(f), or a life company. A lease-up that will not clear a permanent box is bridge, with the takeout named. HUD 221(d)(4) is a HUD program originated with a HUD-approved lender, not a construction counter we staff.
- We are not the GSE
- Capital Market Funds arranges the file and places it with the lender that executes the program. An Optigo Seller/Servicer makes a Freddie Mac loan. We are not a Fannie Mae DUS lender and we are not an Optigo Seller/Servicer.
Capital for Chandler apartments
| Source | When it fits |
|---|---|
| Fannie Mae | Stabilized Chandler apartments. The Price Road bridge is not this loan. |
| Freddie Mac | Optigo when the Chandler business plan fits targeted or value-add. |
| Life company | A Chandler community held by an insurer instead of an agency execution. |