Baron Properties Acquires Mesa Multifamily For $64.7M With IPA As The Broker

Located at 1440 South Val Vista Drive in Mesa, AZ, the multifamily property was recently sold in a closed transaction. The deal was completed on October 11, 2022.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $64,650,000
• Units: 222
• Price Per Unit (PPU): $291,216
• Market: Mesa, AZ
• Buyer: Baron Properties
• Seller: OpenPath Investments
• Broker: Institutional Property Advisors

Baron Properties acquired the 222-unit multifamily property from OpenPath Investments. Represented by Institutional Property Advisors, the deal was finalized for a total purchase price of $64,650,000, at a price per unit of $291,216. The property, situated in Mesa, AZ, is expected to provide a valuable addition to Baron Properties' portfolio.