Bella Vista | 1564 North Morrison Avenue, Casa Grande, AZ 85122 | 140 Units | $11,375,000 | $81,250 Per Unit | $92.62 Per SF
FOR IMMEDIATE RELEASE
Company Website: www.ABImultifamily.com
Phoenix, Arizona – August 30, 2019: ABI Multifamily – the leading multifamily brokerage and advisory services firm in the Western US – is proud to announce the $11,375,000 / $81,250 Per Unit / $92.62 per SF sale of Bella Vista Apartment Homes in Casa Grande, Ariz.
Bella Vista Apartment Homes is a 140-unit garden-style apartment community in the Pinal submarket, conveniently located near Florence Boulevard’s busy retail corridor, with accessible access to the nearby major metropolitan areas of Phoenix and Tucson.
Built in 1995, the Bella Vista Apartment Homes features 140 units in seven two-story buildings. Consisting of 88 two-bedroom / two-bath units and 52 three-bedroom/ two-bath units. Each unit includes walk-in closets, high ceilings, vinyl flooring, patio/balcony, and well-equipped kitchens.
ABI Multifamily’s Rue Bax, Alon Shnitzer, John Kobierowski, Eddie Chang and Doug Lazovick represented both the Buyer and the Seller.
"It has been really exciting to be a part of (Seller) Weidner Apartment Homes’ success in Arizona,” Bax said. “In just a short period of time, Weidner has become the largest owner of apartments in Arizona. After having had personally brokered to them more than 1,700 units here, things are starting to come full circle now with the disposition of Bella Vista Apartment Homes, allowing them to redeploy a tremendous amount of equity that was in Bella Vista and pursue other opportunities."
Shnitzer said, "The Buyer, CALCAP, entered the Casa Grande market in 2016 with the purchase of a 132-unit property. Bella Vista Apartment Homes is not far from this other asset, and the purchase of Bella Vista allows them to capitalize with economies of scale. Casa Grande is conveniently nestled between Phoenix and Tucson on the area’s major transportation corridor, and lots of exciting things are underway or in planning for Casa Grande, including more than $2.2 Billion in energy development and the $700 Million Lucid Motors facility.”
ABI Multifamily (http://www.abimultifamily.com/) is a brokerage and advisory services firm focused exclusively on apartment investment transactions. With offices in Phoenix, Tucson, Sacramento and San Diego, the experienced advisors at ABI Multifamily have completed billions of dollars in sales and thousands of individual multifamily transactions. ABI Multifamily incorporates a global approach with regional real estate expertise to successfully complete any multifamily transaction, regardless of size and complexity.