The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
August 12, 2020
 Search RENTV
 Video Programs
News Home Page
Southern California
Northern California
Pacific Northwest
Prop. Management
Press Releases
 R. E. Marketplace
Service Providers
Property Spotlight
 RENTV  Conferences
Subscriber Login:
Forgot Password?

Printer-friendly Version   Email an Associate
AZ Res Sale a Reflection of Consistent High Demand in the Area


FIVE46, a 320-unit multifamily asset in Mesa, AZ, was acquired by S2 Capital for $46 mil, or $143.8k/unit. The property was sold by a joint venture between Security Properties and funds managed by Oaktree Capital Management L.P.

Located at 546 S. Country Club Rd, FIVE46 features two swimming pools, resident clubhouse, 24-hour fitness center, lighted dog park, soccer field, shaded children’s playground, and picnic areas with barbecue grills.

CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch represented the sellers in the transaction. Rocco Mandala of CBRE Debt & Structured Finance arranged financing for S2 Capital.

“Multifamily fundamentals in Mesa provide a very compelling investment argument,” said Pesch. “Workforce housing is always in strong demand and the pipeline of future multifamily projects in Mesa is limited.”

According to CBRE Research, the multifamily occupancy rate in the northwest Mesa submarket reached 97% in Q3 2019, an increase of 276 basis points since Q3 2017, and there are no new communities planned or under construction within three miles of FIVE46.

“FIVE46 is our second acquisition in Mesa this year and we are looking to expand our Arizona portfolio with similar value-add communities,” said S2 Capital founder and CEO Scott Everett. “Phoenix is one of the strongest growth markets in the country and the supply and demand dynamics in Mesa are very attractive.”

S2 Capital has purchased and renovated more than 25,000 multifamily units across Arizona, Texas and Florida, creating a portfolio worth $3 bil. The company has managed nearly 25,000 apartment units over the last seven years.

Return to the Archive page





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2020 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media