NextGen Spins Off Mesa Apartment Complex
The 104-unit Craft @ Gilbert & Baseline was sold for $45 million, or $432,000 a unit. The sale occurred in an area of supercharged growth, “Over the past 10-plus years population growth within a there-mile radius of the property has outpaced multifamily supply by a multiple of 32,” said Steve Gebing of Institutional Property Advisors, who represented the seller, NextGen.
The property is located close to the US 60/Superstition Freeway and is near major employers such as Banner Health, State Farm, Intel, Wells Fargo and Honeywell. Retail, dining and shopping options are within walking distance.
Built in 2019, the complex is a controlled-access, garden-style asset with units that average out to a 1,000 square feet.
Apartment buildings for sale
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The Quinn
Phoenix, AZPhoenix & Southwest + Apartments + Garden Style
Learn MoreListing Status: Available Listing Type: Call for offers Price: $10,500,000 No. of Units: 110 Year Built: 1987 Year Renovated: 2023 Building Size: 63820 Sq ft Opportunity Zone: No Price per unit: $95,454 
1404 Silver Ave SW
Albuquerque, NMPhoenix & Southwest + Apartments
Learn MoreListing Status: Available Price: $1,212,000 No. of Units: 12 Cap Rate: 5.93 GRM/GIM: 10.44 Year Built: 1949 Building Size: 6000 Sq ft Lot Size: .33 Acres No. of Stories: 2 APN: 101305732540612003 Zoning Code: R-ML Opportunity Zone: No Price per unit: $101,000
- ◦Sale/Acquisition
