Updated Apr 1, 2026
Jay Rollins Of Canopy Real Estate Partners Acquires CJ Townhomes Multifamily In Mesa For $13.39M
3426 East University Drive
$13,390,000
Units
36
Asset Type
MultiFamily
Closing
Mar 31, 2026
About this deal
AI
The transaction involved a multifamily asset located at 3426 East University Drive in Mesa, AZ. The property consists of 36 fully leased units and was sold for $13,390,000. The price per unit is $371,944. This community was constructed in 2024, indicating that it is a newly built property.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $13,390,000
- Units: 36
- Price Per Unit: $371,944
- Buyer: Jay Rollins - Canopy Real Estate Partners
Jay Rollins represented Canopy Real Estate Partners in the acquisition of CJ Townhomes, emphasizing the strategic approach taken to acquire the property despite the challenges faced with a distressed capital stack.
Mesa MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.18%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93