Continental Realty Group has recently acquired the Copper Point Apartments in Mesa, Arizona for $24.6 million, equating to approximately $230,000 per unit. This marks CRA’s fifth purchase in the Phoenix area since 2016.
Constructed in 1986, Copper Point offers one and two-bedroom floor plans. The property boasts a range of amenities including a clubhouse/leasing center and swimming pool. During their ownership period, CRA plans to renovate the unit interiors as well as enhance the exterior and common areas.
Conveniently located in central Mesa, residents of Copper Point have easy access to various employment centers and retail hubs within the greater Phoenix metropolitan area.
Robert Ireland, Chief Investment Officer at CRA stated that this investment aligns with their Vital Collection strategy which focuses on providing affordable yet high-quality housing options for tenants.
This transaction was reported by Connect CRE under “Mesa Apartments Trade for $230K/Unit”.
