Interwest Capital Completes $70 Million Purchase Of Mesa, AZ Multifamily Property
Phoenix and San Diego — November 1, 2021 — Interwest Capital Group today announced the $69,200,000 million purchase of Renew One Eleven, a garden-style multifamily property located in Mesa, AZ.
“The property is located in one of the most dynamic markets in the country. That growth is being driven by strong demographic and investment trends. We plan to initiate a renovation program for the units, as well as upgrade and expand the amenity package, including enhancements to the pool and common areas”, says CEO Alex Roudi. Through this, the property can better compete in a sub-market undergoing profound change and growth.
The property, located at 111 N. Gilbert Rd, Mesa, AZ within walking distance to the Metro Light Rail, has been re-named “Mesa Station.” It is situated just east of the heart of downtown Mesa district with over 40 local restaurants and shopping opportunities as well as the Mesa Arts Center, IDEA Museum, Pioneer Park, and the Arizona Museum of Natural History. The 397-unit property features one-, and two-bedroom units. The Community amenities include a fitness center, indoor basketball court, pet park, resort-style pool and covered parking.
Property photos available upon request.
About Interwest Capital Group:
Interwest Capital is a privately -held firm founded in early 2003 by executives with diversified backgrounds and extensive knowledge in the real estate and financial industries. Interwest specializes in the acquisition, operation, and repositioning of commercial real estate.
To learn more about Interwest, please visit www.interwestcapital.com.