Mesa Apartment Complex Purchased for $79,000 Per Unit

PHOENIX-An investment company has purchased an apartment project in Mesa for $27 million.

The Denver Family Trust bought the Sienna at Riverside apartments, a 340-unit complex at 711 N. Evergreen Road in Mesa. The purchase price equates to $79,000 per unit, one of the highest prices paid per unit in Mesa.

The seller was San Diego-based Fairfield, which has sold a number of its complexes in the Valley during the past year and has put the proceeds into other new projects around the Valley.

The Phoenix office of Hendricks & Partners negotiated the sale.