MC Companies Expands Portfolio with $34 Million Acquisition of 430-Unit Apartment Community

MC Companies Expands Portfolio with $34 Million Acquisition of 430-Unit Apartment Community

MESA, AZ - MC Companies is no stranger to real estate and multifamily housing in the Southwest. Now, they announced the purchase of The Place at El Prado (formerly: Whispering Meadows Apartments) in Mesa, Arizona. This real estate transaction is valued over $34 million dollars and is adding to the already impressive MC Companies Portfolio.

The Place at El Prado is centrally located in Mesa with beautiful, sprawling grounds, upgraded units and modern amenities. This 430-unit property is ideally located in the re-emerging Fiesta District of Mesa. Two miles south of the event-oriented and pedestrian-friendly area known as the Downtown Mesa District, this area is exploding with major development.

"We're very excited to have The Place at El Prado join our portfolio," says Director of Acquisitions, Charles Koznick. "Acquiring this property aligns with MC Companies' strategy to acquire multi-family assets that we believe have unrealized value potential."

While significant capital has already been invested in common area improvements, MC is poised for the implementation of apartment interior renovations. MC Companies will continue repositioning the apartment interiors with a comprehensive renovation program that includes upgrading the appliances, refinishing the cabinet boxes and installing new cabinet doors, and much more.

Residents at this apartment community can choose from a variety of floor plans, including one bedroom, two bedroom, and three-bedroom floor plans. The grounds are well maintained, and are spotted with barbecue areas, two swimming pools, and a new dog park.

Aside from the property itself, the proximity of The Place at El Prado to Mesa Community College, local art galleries, restaurants, businesses and entertainment centers, ties into the MCLife brand. MCLife is about all things local. The MCLife 5-5-5 was created with the belief that residents, and prospective residents, want to know about the neighborhood they are moving to. On all of the MCLife regional websites, there are the 5 Best Places to Eat, the 5 Best Places to Shop and the 5 Best Places to Play around each community.

Mesa is a melting pot of creative folks from all walks of life, cultures and ages. MC Companies is excited to bring The Place at El Prado into the community as Mesa emerges as the "place to be" in the Valley for smart, creative people.

Source: MC Companies / #Apartments #Multifamily

More Stories

Get The Newsletter

Get The Newsletter

The latest multifamily industry news delivered to your inbox.