PHOENIX – 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.