MESA, AZ—Bayview Apartments, a 204-unit multi-housing community, have sold for $18.6 million sales or more than $91,000 per unit. The seller was New Bayview Apartment Properties LLC and the buyer was Deancurt Mesa II LLC.

The community is located at 1930 North Country Club Dr., less than three miles north of downtown Mesa. Called "the square mile of unique style," the city has Arizona's largest arts and entertainment complex, and is anchored by the Mesa Arts Center, a seven-acre campus with four theaters, five art galleries, 14 art studios and classrooms, administrative offices, conference rooms, and a 700-foot-long outdoor grand promenade or "shadow walk." The Falcon Field employment center, a 5,100-acre area with more than 10 industrial and office parks, is located less than seven miles east of Bayview. The largest company in the area is Boeing's Apache helicopter facility. Other notable employers include Fujifilm, Mitsubishi, Bridgestone, Matheson Gas, MD Helicopters, Nammo Talley Inc., TRW Vehicle Safety Systems Inc., Able Engineering, CMC Steel, Banner Health Systems, Cessna and Timken Aerospace.

Institutional Property Advisors, a division of Marcus & Millichap, senior director Steve Gebing and Marcus & Millichap senior director Cliff David advised the seller and procured the buyer.

David tells GlobeSt.com: "Bayview is situated less than three miles north of the Downtown Mesa District. There are more than 490 businesses and approximately 10,000 employees in downtown Mesa where the district enjoys an economic impact of $2 billion annually."

Bayview Apartments was developed in 2000 by CMH Corp. Each apartment home features 9-foot ceilings, a fully equipped kitchen, full-sized washer and dryer, large walk-in closets, ceiling fans and a private patio or balcony with storage space. Community amenities include a stand-alone leasing office with business center, an oversized stand-alone fitness center, a swimming pool and spa, spacious outdoor spaces with barbecue grills, assigned covered parking, pedestrian gates and controlled access gate entry.

"Bayview Apartments' positioning within the competitive landscape of the submarket makes it a prime candidate for the implementation of a renovation program," says Gebing. "The property is situated in an established section of north Mesa that includes only one other asset within a three-mile radius built in the 21st century."