Arizona multifamily complex sells for nearly $25 million

Class A property comprises 300 rental units

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Hendricks & Partners negotiated the sale of Sandbridge, a 300-unit apartment community in Mesa, Ariz. The value of the transaction was approximately $25 million. Sandbridge, located at 5332 East Baseline Road, was built in 2002 and is situated within Inverness Commons Business Park. Sandbridge's units average 893 square feet and offer class A amenities. San Diego-based Fairfield Higley Road LP sold the property to Dublin, Ohio-based CTA Ventura No. 15 LLC. Hendricks & Partners is an advisory firm focused exclusively on the sale of multifamily properties. *** Send tips, feedback or a letter to the editor to or call (510) 658-9252, ext. 124....