Arizona Apartment Community Changes Hands

CBRE brokered the sale of the Mesa luxury property.

Pool and apartment buildings at sunset
Landing at Fiesta Village is located in Mesa, Ariz. Image courtesy of CBRE

Millburn & Co. has acquired Landing at Fiesta Village, a luxury apartment community in Mesa, Ariz., from private equity firm Rockpoint and P.B. Bell. CBRE negotiated the sale.

Located at 1310 West Southern Avenue in Mesa, Landing at Fiesta Village is a 220-unit apartment community featuring one-, two- and three-bedroom apartments ranging in size from 726 to more than 1,275 square feet. Features and finishes of the property include nine-foot ceilings, undermount sinks with designer fixtures, full-size in-unit washers and dryers and private patios or balconies.

A resort-style heated swimming pool and spa area are highlights of the property’s common area amenities. Built in 2022, Landing at Fiesta Village features two- and three-story buildings of frame construction. The property was 96.4 percent occupied at the time of the sale.

Centrally located

Landing at Fiesta Village is situated in central Mesa, near various education, cultural and recreation opportunities. Four colleges and universities are within a 10-minute drive from the property: Alverno College, Benedictine University, Mesa Community College at Southern and Dobson and Mesa Community College in Downtown Center.

Five different transit or subway stations are located within a 10-minute drive, and Phoenix Sky Harbor International Airport, including Phoenix Sky Harbor Airport Air Guard Station, is a 20-minute drive away. Luke Air Force Base is approximately 50 minutes away. Earlier this month, Rockefeller Group and Liv Properties delivered a new property in Laveen, Ariz.

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