Frenetic week of multi-family trading ending with sale of a 676 unit Mesa apartment complex for $66.6 million

Mesa apartment complex

Business Real Estate Weekly by Rose Law Group

Mesa apartment complexMesa – In a deal that will cap off a seven-day period of robust multi-family property sales activity in the Phoenix area, the 676-unit Lakeview at Superstition Springs Mesa apartment complex is set to close in a $66.6 million transaction ($98,521 per unit). The project, located within the Superstition Springs community, is at 1849 S. Power Road. The multi-family property is being purchased by Fairfield Residential Inc. in San Diego, Calif. (Chris Hashioka, pres.). The seller is Lakeview Apt. Corp., a company formed by Heitman LLC in Chicago, Ill. The sale was brokered through Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE in Phoenix. In April 2006, BREW reported the company formed by Heitman paying $59.4 million ($87,870 per unit) to buy Lakeview at Superstition Springs. The sprawling complex was developed in three phases during the 1990s. Continued

View Larger Map

As reported in:

DM BREW RLG logo

Share this!

Additional Articles

Top master-planned communities for 2024

By AZ Big Media Here are the Top 10 master-planned communities in Arizona, based on public voting for the 2024 edition of Ranking Arizona, the state’s biggest and most comprehensive business opinion poll. Ranking Arizona

Read More »
News Categories

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.