CBRE has arranged the $153.5 million sale of a three-property multifamily portfolio with communities located in Tempe and Mesa, Ariz. Priderock Capital Partners of West Palm Beach, Fla. acquired the portfolio from IMT Residential.
Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office arranged the transaction on behalf of the seller.
The following properties were included in the sale:
- Del Coronado, located at 843 Longmore Street in Mesa, Arizona, is a 419-unit garden-style community. The property is centrally located in Mesa within one mile of two of Mesa’s largest employers, Banner Desert Medical Center and Mesa Community College.
- Moorings at Mesa is located at 1233 N. Mesa Drive in Mesa, Arizona on a roughly 29-acre site. The community features 406 units with large floor plans, originally designed as condominiums in 1985.
- Rancho Murietta is a 292-unit garden-style community at 1717 S. Dorsey Lane in Tempe, Arizona. Rancho Murietta is located less than one mile from Arizona State University, which has an on-campus student population of approximately 80,000.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
