Below is the deal that closed Tuesday and Thursday, March 26, 2015, in Maricopa County over $5 million according to the Maricopa County Recorder. The Rose Law Group Reporter has not independently verified these transactions.
$8.5 million ($62.6/SF) sale of the 135,678-square-foot Mesa Ridge Apartments near the northwest corner of W. 8th Avenue and S. Country Club Drive (650 S. Country Club Drive), in Mesa by LWH/RRS Mesa Ridge LP, which appears to be an entity of the Canadian-based Sheiner Group U.S. Deep Value Real Estate Fund, an LP established to take advantage of the housing and credit crisis in the U.S., focused primarily in the Southwest U.S., according to their website.
The buyer was Sonoma Fiesta LLLP, an entity of Scottsdale-based ReNUE Properties, a real estate investment firm specializing in the acquisition and rejuvenation of multi-family residential properties, according to their website.
The buyer made a down payment of $1.7 million for the transaction.
The two-story apartments were built in 1984 on 5.4 acres.
To view affidavit, click here.
