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2/19/25
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Copper Point Apartments, a 107-unit multifamily community in Mesa, AZ, was purchased for $24.65 mil ($230.4k/unit) by Continental Realty Group, through its subsidiary Continental Realty Assets Ltd ("CRA"), a Denver-based multifamily owner and operator. This marks the fifth acquisition for CRA in the Phoenix market since 2016.
Built in 1986, Copper Point features one- and two-bedroom layouts in five distinct floor plans. The property’s amenity package includes a clubhouse/leasing center and a swimming pool. CRA intends to moderately upgrade the unit interiors during their ownership period, as well as make improvements to the property’s exterior and common areas.
Copper Point is ideally located in the heart of Mesa, offering residents seamless access to many of the Phoenix MSA’s thriving employment centers and retail hubs.
“This investment aligns with our Vital Collection investment strategy, which provides quality housing at an affordable price,” commented Robert Ireland, CRA’s Chief Investment Officer. “We look forward to executing our business plan and delivering an exceptional community to current and future residents at Copper Point.”
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