Chandler/Gilbert – Aerie Development in Tucson (Roger Karber, principal) plans to construct 650 residential rental units in Chandler and Gilbert. Karber has formed a joint venture with investor G.F. Jaggi of Iridius Capital and contractor Garry Brav of Preferred Apartment Builders, both of Tucson, and will develop the residential housing communities. The venture is looking for three more sites in the Southeast Valley to develop another 393 units of the for rent product. The Karber/Jaggi/Brav company is also looking for parcels in the Tucson and Marana markets to build the rental complexes. Initially, Aerie Development is building a 112-unit rental community at the northeast corner of Alma School and Pecos Roads. Alta Vista Communities ASNE LLC in Tucson (Karber’s entity) paid $2.35 million to purchase that 9.61-acre tract from Hatcher Plaza LLC, a company formed by Michael Pollack of Michael A. Pollack Real Estate Investments in Mesa. Continue reading:
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