Waterstone Apartments

Location: Mesa, AZ
Type: Multifamily
Price: $ 7,000,000

SMC’s $7,000,000 short-term LIBOR-based first mortgage facilitated the Borrower’s acquisition of the Property following the Borrower’s winning bid on Auction.com. The Property is a 269-unit garden style multifamily property in Mesa, Arizona. Built in 1979, the Property consist of 14, 2/3-story residential buildings, with an average unit size of 598 SF and 1 common area building. Amenities at the Property include a clubhouse, leasing office, spa, fitness center, two outdoor pools and four common laundry rooms.