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MESA, AZ-A California limited partnership has dropped about $3.1 million for the Brittany Place Apartments in Mesa, spending $25,000 less than the original asking price for a 92-unit complex with 11 vacancies.

In a deal with Woodleaf LLC of Phoenix, Osmena Britany LP from Palos Verdes Estates took over the 708 N. Country Club Dr. complex with plans to improve its ailing vacancy rate and rehab about 30 units that remain to be renovated, Michelle Watson with Marcus & Millichap tells GlobeSt.com.

“They saw its potential,” Watson said of the master-metered complex along Country Club Drive near Main Street. “It was a nice, clean property that they were able to jump into as out-of-state investors and have a nice investment.”

The class B complex features a mix of studio and one bedroom apartments with on-site laundry facilities and a swimming pool. Watson, along with Pete TeKampe, also with Marcus & Millichap, represented both parties in the transaction.

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