CBRE recently announced the sale of the 200-unit Superstition Canyon apartments in Mesa on behalf of KB Development to a Southern California investor for $65 million.
CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of Phoenix Multifamily Institutional Properties represented the seller.
Superstition Canyon, 1247 S. 96th St., features a resort-style heated pool with ramada, TV, fireplace and barbecues. The property, built in 2010, also has a sauna, fitness center, clubhouse with billiards table, business center, basketball court, sand volleyball court and gated dog park.
“Phoenix is one of the fastest-growing metros in the country and Mesa is an outperforming multifamily market,” Cunningham said in the release. “Superstition Canyon is ideally positioned for continued operational success.”
KB Investment Development Company is an Orange County, California-based real estate development company with more than 40 years of experience in the development, construction and management of commercial and residential real estate, the release states.