PHOENIX—Cassidy Turley announces the sale of Newport Mesa, a 156-unit apartment community in Mesa. Southern Avenue 156 Community, LLC (Unity Pacific Residential) purchased the property from Newport Mesa Apartments, LLC (Maxx Properties). The asset sold for $8.37 million.
Cassidy Turley executive managing directors David Fogler and Steven Nicoluzakis represented the seller in the transaction.
Fogler tells GlobeSt.com, “This was an attractive, well laid-out property. The surrounding area is on the verge of making a comeback and the buyer saw this, in addition to the large job base. The seller had owned the property for 10 years and it was in great shape. The buyer has some similar projects in other parts of Phoenix.”
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