Westmount Claims Second MF Asset in Arizona
Dallas-based Westmount Realty Capital acquired Urban Trails at the District, a two-story, garden-style apartment community in Mesa for $24 million. The 156-unit property is located at 1620 W. Southern Ave. The asset is Westmount’s second multifamily property in Arizona.
Westmount’s Brant Brown says, “Urban Trails at the District is a great investment opportunity in one of the best places to live in Arizona. Along with interior and exterior renovations, Westmount will modernize the property’s amenities, which will include a new leasing office, a package locker system and a beautiful pool area with grills, shaded areas and a community barbeque area.
The 1974-built community consists of one- and two-bedroom units. Property amenities include two swimming pools, a 24-hour fitness center, picnic areas and a dog park. Interior renovations will include upgraded amenities to every unit.
IPA’s Cliff David and Steve Gebing represented the seller, a JV of Prospect Ridge and Western Wealth. The buyer was self-represented.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition