Rockwell Property Acquires 210-Unit Cimarron Apartments In Mesa For $33 Million

The property asset involved in this transaction is a multi-family building located at 151 East 1st Street in Mesa, Arizona. The asset comprises 210 units and was sold for $33,000,000, resulting in a price per unit of $157,143.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $33,000,000
• Address: 151 East 1st Street
• Market: Mesa, AZ
• Units: 210
• Price Per Unit: $157,143
• Buyer: Rockwell Property

Rockwell Property Co. acquired the asset from a local family that had owned the property for approximately ten years. This transaction represents Rockwell’s sixth acquisition in Arizona and includes plans for unit upgrades and amenity enhancements, along with the potential for new development on-site.