A Chandler apartment complex purchased for $130.6 million just four years ago has changed hands for $71 million at a foreclosure auction after its owner defaulted on a nearly $93 million mortgage.
Starlight U.S. Residential, a Canadian real estate investment fund, acquired the 272-unit Ventura Apartments at Ray Road and McClintock Drive in May 2022, near the height of a historic run-up in Valley apartment values.
Starlight financed most of the acquisition with debt…