SB Real Estate Partners Acquires 126-Unit Multifamily Property In Mesa, AZ For $24.3M

The multifamily property located at 3030 East Broadway Road in Mesa, AZ has been sold. The property spans across 4.59 acres and was acquired for a price of $24,300,000. The transaction took place on October 13, 2021. The property consists of 126 units, with each unit valued at approximately $192,857.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $24,300,000
• Address: 3030 East Broadway Road, Mesa, AZ
• Market: Mesa, AZ
• Acreage: 4.59
• Price Per Acre: $5,294,118
• Buyer: SB Real Estate Partners
• Seller: FPA Multifamily
• Brokers: Chris Canter, Brett Polachek, & Brad Goff - Newmark
• Units: 126
• Price Per Unit: $192,857

The deal was facilitated by brokers Chris Canter, Brett Polachek, and Brad Goff from Newmark. SB Real Estate Partners acted as the buyer, while FPA Multifamily was the seller. This successful transaction demonstrates the value and demand of multifamily properties in the Mesa, AZ market.