Continental Realty Group purchased the 107-unit Copper Point Apartments in Mesa, Arizona, for $24.6 million, or about $230,000 a unit. This is CRA’s fifth acquisition in the Phoenix market since 2016.
Built in 1986, Copper Point features one—and two-bedroom layouts. The property’s amenity package includes a clubhouse/leasing center and a swimming pool. CRA intends to upgrade the unit interiors during their ownership period and improve the property’s exterior and common areas.
Copper Point is located in the heart of Mesa, offering residents access to many of the Phoenix MSA’s employment centers and retail hubs.
Robert Ireland, CRA’s Chief Investment Officer commented, “This investment aligns with our Vital Collection investment strategy, which provides quality housing at an affordable price.”
April 10: The leading investors, owners, developers, lenders, managers, brokers,and more will be onsite at Connect Phoenix Multifamily, SFR & BTR – will you? Don’t miss out; register now and join the industry’s leading names in-person on April 10th to find out what Phoenix & Scottsdale’s rental-housing experts predict for the balance of 2025. Discounted early bird registration is only available for a limited time, so register to attend now! Connect Phoenix Multifamily, SFR & BTR | Thursday, April 10 at The Westin Kierland Resort & Spa, Scottsdale, AZ.
The post Mesa Apartments Trade for $230K/Unit appeared first on Connect CRE.
Gillian Executive Search is a leader in Affordable Housing Development, Financing, Design and Construction recruiting. www.gessearch.com