Rockwell Property Co. completed the $33 million acquisition of Cimarron Apartments, a 210-unit multi-family property located one block from the center of downtown Mesa, Arizona. The seller was a local family that had owned Cimarron for more than a decade as part of a portfolio. The purchase marks Rockwell’s sixth acquisition in Arizona and its first in the city of Mesa.
Built in 1985, Cimarron is one of the few garden-style communities in the immediate area. Amenities include a club room, fitness center, indoor basketball court, laundry center, pool and hot tub, grilling stations, dog run, and lawn games area.
A distinctive aspect of the acquisition is that Cimarron includes developable land for additional apartments on the northeast corner of the site.
Rockwell Property Co. is a full-service real estate investment firm founded in 2009. Rockwell concentrates on the redevelopment and ownership of multi-family properties nationally. The company owns and operates over 5,000 units.
The post Rockwell Picks Up 6th AZ Rental Property appeared first on Connect CRE.
​Â