Retail developer Vestar revealed plans for Legacy Park, a massive mixed-use project in southeast Mesa. Spanning 200 acres near Mesa Gateway Airport, Arizona Athletic Grounds, and ASU’s Polytechnic, the Legacy Park project will include: a more than 20-acre urban park will include several trails and a large man-made lake, 300,000 square feet of upscale retail and restaurants, 2,400 multifamily residences, a 600-room resort hotel, and 3.4 million square feet of mid-rise office and corporate campus space.
The Phoenix Business Journal reports Vestar and the property’s owner, Pacific Proving LLC, are referring to the project as an “urban oasis” that will not only meet the demands of the growing communities of Mesa, Gilbert and Queen Creek but also be a landing spot for future residents.
Over the next two years, Vestar will be working with the city of Mesa and putting the rest of its development team together.
Ponderay Apartments, a 40-unit multifamily property located at 5625 15th Ave NE in Seattle’s University District, sold for $6.26 million, equating to $156,625 per unit. Built in 1963, the property totals 21,540 square feet and consists of 22 one-bedroom units and 18 studio apartments. The studios average 478 square feet, while the one-bedroom units average...
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TruAmerica Multifamily acquired Bricks at Perimeter Center for $120 million. Clark Ventures was the seller of the 446-unit, garden-style apartment community in Atlanta’s Perimeter Center submarket. Clark paid $69.5 million for the property in 2016. TruAmerica will revamp nearly all of the rooms in the complex, which was built in 2007. The company plans to incorporate...
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BTI Partners and Bridge Investment Group closed on $109 million in financing for the Bread Building, a multifamily property located in downtown Hollywood, Florida. Cushman & Wakefield arranged, and Greystone provided the Freddie Mac loan for the transaction on behalf of borrowers, BTI Partners and Bridge Investment Group. Cushman & Wakefield’s Equity, Debt & Structured Finance...
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