PHOENIX – February 21, 2018 – Berkadia today announced that they completed the sale of Trails at Harris, a garden-style multifamily property in Mesa, Arizona. Senior Managing Directors Ric Holway and Mark Forrester led the sale, along with Senior Director Dan Cheyne, all out of the Phoenix office. The team completed the sale on behalf of the seller, Canada-based Western Wealth Capital.
Senior Director Anthony Ansevin of Berkadia’s Irvine office secured in the acquisition financing through Freddie Mac. The deals closed on February 5.
“Trails at Harris represents a strong value-add opportunity within the high demand East Valley submarket on the Mesa/Gilbert border,” said Holway. “The buyer plans to upgrade the unit interiors and reposition the community amenities and branding.”
“Freddie Mac’s Green Advantage program was a perfect fit for this borrower who wanted to improve the property and its energy and water efficiency,” said Ansevin.
Located at 1653 S Harris Drive, the 209-unit property offers one- and two-bedroom floorplans, ceiling fans and air conditioning. Residents can enjoy amenities such as a clubhouse, fitness center, business center and two swimming pools. Trails at Harris offers convenient access to Routes 60 and 87 and is located in the Gilbert School District.