CBRE recently announced the sale of Club 715, a 71-unit multifamily community in Mesa, to a private California-based investor for $21 million.
CBRE’s Brian Smuckler, Jeff Seaman, Derek Smigiel, and Bryson Fricke represented the buyer and the seller, a private investor based in Los Angeles, in the transaction, according to a release.
Club 715, 715 N. Country Club Drive, was completed in 2020 and has two- and three-bedroom floor plans averaging 1,002 square feet. Units feature shaker cabinetry, decorative tile backsplashes, wood-plank style vinyl flooring, stainless steel appliances, nine-foot ceilings, walk-in closets, large private patios, and in-suite washer and dryers.
“Investors were drawn to Club 715 for its new construction and excellent, central East Valley location that is experiencing strong rent growth,” Smuckler said in the release.