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| Cortona at Dana Park Apartments, Mesa, AZ |
MESA, AZ –
Institutional Property Advisors (IPA), a division of Marcus & Millichap
specializing in serving institutional and major private real estate investors,
is pleased to announce the sale of Cortona
at Dana Park, a 222-unit multifamily community in Mesa, Ariz. The $22.1
million sales price equates to $99,550 per unit.
IPA senior director Steve Gebing and Marcus & Millichap
vice president investments Cliff David
advised the seller, Virtú Investments. The buyer is Green Leaf Capital
Partners.
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| Steve Gebbing |
“Developed by Hrebec Properties in
1986, Cortona at Dana Park’s design and functionality are unparalleled in
comparison with other assets of its vintage,” says Gebing. “The previous owner
upgraded approximately 70 percent of the unit interiors and further
opportunities for value enhancement remain.”
The apartment community is located
at 1440 South Alma School Road in Mesa near Village Square at Dana Park, an
urban lifestyle center with a mix of upscale retailers.
Banner Gateway Medical
Center’s 60-acre campus is two miles away and the Falcon Field Employment
Center, a 5,100-acre area with more than 10 office and industrial parks is
approximately six miles away.
Access to U.S. Route 60, (the Superstition Freeway),
and Arizona State Loop 202, is nearby.
Cortona at Dana Park’s apartments
feature kitchen-garden windows, oversized walk-in closets, built-in
bookshelves, ceiling fans, covered patios or balconies and washers and dryers.
Select two-bedroom units have walk-in pantries and wood-burning fireplaces.
Community amenities include two swimming pools and spas located along a
spacious pool deck with resort-style furniture; a playground, lighted courts
for basketball and volleyball, barbecue grilling stations with picnic areas, a
24-hour fitness center, a clubhouse with kitchenette and resident lounge,
reserved covered parking, and controlled gated access.
For a complete copy of the company’s
news release, please contact:
Gina Relva
Public
Relations Manager
(925)
953-1716
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