(To read more on the multifamily market, click here.)
MESA, AZ-Expanding its footprint in the area, a PacificNorthwest buyer pays $21.9 million to acquire 441 units in twoseparate deals. A Tucson-based seller parted with its class B313-unit Windscape Apartments in Mesa and Las Palmas Apartments, a128-unit complex in Tucson.
The acquisition, from seller QSR Inc. of Tucson, brings investorResidential Equity Partners' Arizona portfolio to 1,613 multifamilyunits. As it has with other assets, the Portland, OR-basedResidential Equity plans renovations to both complexes. Renovationcosts for both properties will total close to $3 million.
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