Geringer Capital hasacquired Avia 266 from Thayer Manca Residentialfor $45.3 million. The 266-unit property is located in Phoenix.

Located at 2354 W. University Drive in the Mesa submarket ofPhoenix, Avia 266 features two swimming pools, 24-hour fitnessfacility, resident clubhouse, outdoor gaming space with bocce ballcourt, parcel pending locker for resident packages, and a dog park.Large one- and two-bedroom units have well-appointed kitchens,walk-in closets, full-size washer/dryers, and private patios orbalconies.

CBRE's Tyler Anderson,Sean Cunningham, Asher Gunter andMatt Pesch of Phoenix multifamily institutionalproperties represented the seller.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.