Business

Superstition Canyon apartments in Mesa sold for $65M

Posted 8/7/21

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, …

To Our Valued Readers –

Visitors to our website will be limited to five stories per month unless they opt to subscribe. The five stories do not include our exclusive content written by our journalists.

For $5.99, less than 20 cents a day, digital subscribers will receive unlimited access to YourValley.net, including exclusive content from our newsroom and access to our Daily Independent e-edition.

Our commitment to balanced, fair reporting and local coverage provides insight and perspective not found anywhere else.

Your financial commitment will help to preserve the kind of honest journalism produced by our reporters and editors. We trust you agree that independent journalism is an essential component of our democracy. Please click here to subscribe.

Sincerely,
Charlene Bisson, Publisher, Independent Newsmedia

Please log in to continue

Log in
I am anchor
Business

Superstition Canyon apartments in Mesa sold for $65M

Posted

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.

Comments