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601 West Rio Salado Parkway
SOLD

Dean Weidner Of Weidner Apartment Homes Buys Multifamily Asset In Mesa For $112M

601 West Rio Salado Parkway

MultiFamily
clock iconSold 95 days ago
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Summary

Sale
ARIZONA
MultiFamily

Situated at 601 West Rio Salado Parkway in Mesa, AZ, the multifamily asset known as Skywater at Town Lake was successfully transacted in a deal. The property, comprising 328 units, was acquired by Dean Weidner of Weidner Apartment Homes from the seller, KB Development, for a total sale price of $112,000,000, reflecting an average price per unit of $341,463.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $112,000,000
  • Units: 328
  • Price Per Unit: $341,463
  • Address: 601 West Rio Salado Parkway, Mesa, AZ
  • Market: Mesa, AZ
  • Buyer: Dean Weidner - Weidner Apartment Homes
  • Seller: KB Development

Enabling a significant transfer of ownership, Dean Weidner, representing Weidner Apartment Homes, displayed active involvement in the acquisition. On the other end of the transaction, KB Development facilitated the sale, marking a substantial milestone in the property market. This successful deal underscores the strategic maneuvers and negotiations conducted between the parties, shaping the landscape of real estate transactions within the region.

Details

Deal Summary
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SOLD
IMAGE: 04/09/2024 ADDRESS: 601 West Rio Salado Parkway MARKET: Mesa, AZ ASSET TYPE: Multifamily BUYER: Dean Weidner - Weidner Apartment Homes SELLER: KB Development SALE PRICE: $112,000,000 UNITS: 328 ~ PPU: $341,463 NOTE: Weidner Apartment Homes purchased Skywater at Town Lake, a 328-unit apartment complex in Tempe, Arizona, for $112 million, or $341,463 per unit.

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Address601 West Rio Salado Parkway

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