InTrust Property Group Acquires Coral Point Apartments From Sheiner Group For $59.6M In Mesa AZ

The multifamily asset involved in the transaction is the Coral Point Apartments, located at 2343 West Main Street, Mesa, AZ. The property comprises 377 units and was acquired for a price of $59,600,000. Each unit has an approximate price per unit of $158,090. The deal was financed with a loan from Brightspire Capital amounting to $45.56 million.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $59,600,000
• Buyer: InTrust Property Group
• Seller: Sheiner Group
• Units: 377
• Price Per Unit: $158,090
• Loan Amount: $45,560,000

InTrust Property Group executed this acquisition of the Coral Point Apartments, which was previously owned by Sheiner Group. This strategic move reflects the active investment interest in the Mesa, AZ market.