MESA, AZ - Atlanta-headquartered ARA, the largest privately held, full-service investment advisory brokerage firm in the nation focusing exclusively on the multihousing industry, recently brokered the sale of the 432-unit Woodcreek Apartment Community located in Mesa, AZ.
The ARA team of Principal Brad Goff and Senior Vice President Dave Lord represented the seller, Denver, CO-based AIMCO in the transaction.
The community was acquired by a San Francisco, CA-based Hamilton Zanze, a real estate investment company specializing in the acquisition and asset management of apartment communities, for $34,000,000 or $78,704 a unit. This marks their fourth AIMCO acquisition in the market and will expand their existing multihousing portfolio in the Phoenix market from 1,985 units to 2,417.
“Located on the border of Mesa and Gilbert, this is one of the best located 80’s vintage multihousing properties to trade in the Phoenix market recently. The community offers excellent accessibility to jobs, entertainment and dining, recreational facilities and is located in the desirable Gilbert School District”, said ARA’s Brad Goff.
Constructed in 1985, the community features four pools, a 24-hour fitness center, basketball and tennis courts, clubhouse and a dog park.
To schedule an interview with an ARA executive regarding this transaction or for more information about ARA, nationally please contact Lisa Robinson at lrobinson@ARAusa.com, 404.990.4900 or Amy Morris at amorris@ARAusa.com, 404.990.4902; locally, Ryan Ash ryan.ash@ARAusa.com at 602-852-3784.
About ARA
Atlanta-headquartered ARA is the largest privately held, full-service investment advisory firm in the nation that focuses exclusively on the brokerage, financing and capital sourcing of multihousing properties including conventional, affordable, distressed assets, notes sales, seniors, student & manufactured housing and multihousing land. ARA is comprised of the country’s top investment professionals who leverage a unique and fully integrated cooperative business platform of shared information, relationships and technology driven solutions. ARA’s unified enterprise approach ensures that clients are delivered the broadest asset exposure, effective matching of buyers and sellers, and the shortest transaction timeframes in the industry. The combination of resources, unparalleled market expertise and nationwide presence in the multihousing marketplace resulted in an annual production volume of $9.5 billion in real estate transactions in 2012. For detailed information on ARA’s extensive multihousing investment services, visit www.arausa.com