September 16, 2024 12:15 pm
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Massachusetts investor spends $18.75M for Mesa apartments

Mesa apartments

Mesa apartmentsBy Business Real Estate Weekly

Deancurt Mesa LLC in Agawam, Mass. (Dean Curtis, principal) paid $18.75 million ($59,713 per unit) to buy the 314-unit Copper Ridge on McKellips apartments at 550 E. McKellips Road in Mesa.

The seller was LMREC CDO III REO XIV Inc., a company formed by Latitude Management Real Estate Investors Inc. in Los Angeles, Calif. (Glenn Sonnenberg, pres.).

The sale was brokered through Brett Polachek and Jim Crews of Cushman & Wakefield of Arizona Inc. in Phoenix. Maricopa County records show the buyer acquired the project with a $16.875 million down payment and $1.875 million was funded through a credit line with TD Bank.

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