White Haven Purchases 44-Unit Multifamily Community In Mesa From Capital Allocation Partners For $9.95M

The Rio is a multi-family community located at 830 North Alma School Road in Mesa, AZ. The property comprises 44 units and was sold for $9,950,000, which breaks down to $226,136 per unit. Originally built in 1986, the property underwent renovations in 2023, contributing to its current market positioning. This sale represents the highest price per unit year-to-date in Mesa for non-new construction assets with 15 or more units.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $9,950,000
• Units: 44
• Price Per Unit: $226,136
• Buyer: White Haven
• Seller: Capital Allocation Partners
• Broker: JLL

JLL Capital Markets facilitated the transaction between Capital Allocation Partners and White Haven. The expertise of JLL in capital markets played a crucial role in arranging the sale of this property, highlighting the ongoing demand for multi-family units in the Mesa market.