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TEXAS/SOUTHWEST NEWS
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AZ Multifamily Asset Sells for $162k/Unit

2/13/20

Riverview Park, a 69-unit apartment community in Mesa, AZ, sold for $11.2 mil ($162.3k/unit). The property is located at 745 North Dobson Rd, south of Sloan Park, the Chicago Cubs spring training stadium, and Mesa Riverview.

Riverview Park features one- and two-bedroom townhome-style floorplans that range in size from 711 sf to 1.1k sf in size. Exterior amenities include covered parking, a clubhouse, on-site gym and pool. The property, situated near Arizona State University and Tempe Marketplace, offers frontage on Rio Salado Pkwy and Dobson Rd, and convenient access to the Loops 101 and 202, the U.S. 60 and Interstate 10.

Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke of CBRE in Phoenix represented the buyer, Delaware-based SPRE Riverview LLC, and the seller, Riverview at Wrigleyville West L.P., an Arizona limited partnership, in the transaction.





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