Security Properties Acquires 432-Unit Arches at Hidden Creek Apartments in Chandler, Arizona
CHANDLER, AZ - Security Properties purchased Arches at Hidden Creek, a 432- unit multifamily property located in Chandler, AZ for $55 million. Security Properties now own five assets in the Phoenix marketplace.Arches at Hidden Creek is located within the dynamic Chandler submarket . Chandler's median annual household income is approximately $71,000, 32% higher than Maricopa County, which covers most of the Phoenix MSA. Chandler's greatest strength is its employment base. Arches sits within five miles of 70,000 jobs in industries that include high-tech manufacturing, aerospace, bioscience, and advanced business services . Because of the city's central location and proximity to three freeways, it can pull from more than 1.7 million people within a 30-minute commute. The Price Road Corridor is the area's largest and most established employment center . Silicon Desert, as it is known, is located just one mile southwest of Arches.
The property is also within clo...