Prudential Real Estate Advisors has completed its disposition of Lucera Apartments, a 192-unit asset located at 2940 E. Broadway Road in Mesa, Ariz. The sales price was $11.5 million. Vancouver-based New City Financial Group was the buyer. Colliers International’s HSK Multifamily team represented both parties in the transaction.
“New City Financial Group felt Lucera Apartments was a desirable asset to acquire, with its location in a dynamic
area of Mesa that is seeing improvements in both rent and occupancy,” says Jeffrey Sherman at Colliers. “Lucera also offers excellent visibility on Broadway Road, with proximity to employment centers, and is in great physical condition.”
The 1986-built property was 93-percent occupied and features 11 buildings set on 6.94-acres. Amenities include controlled access, a business center, clubhouse, fitness room, two swimming pools and a spa.
