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NJ Multifamily Owner Enters Market with $10.2-Mil Buy

MESA, AZ-Falkin Platnick Realty Group of Cranford, NJ spends more than $52,570 per unit for the 194-unit the Pines in Mesa. The firm is laying the groundwork for upgrades in excess of $250,000 for its first Valley acquisition.

By D.J. Burrough | Updated on September 24, 2001

MESA, AZ-A Cranford, NJ-based real estate investment company has made its first purchase in the Valley with the $10.2 million acquisition of a Mesa apartment complex.

The Falkin Platnick Realty Group Inc., operating as the F.P. Mesa Pines LP, has grabbed the title to the Pines Apartments, a 194-unit complex at 1050 W. Eighth Ave. and laying the groundwork for upgrades of at least $250,000. The purchase price equates to more than $52,570 per unit.

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