MESA, ARIZ. — Chicago-based investment firm Rockwell Property Co. has acquired Cimarron Apartments in the Phoenix suburb of Mesa for $33 million. The seller was a local family that had owned Cimarron as part of a portfolio for approximately 10 years. Built in 1985, the 210-unit garden-style community spans about 5 acres and features gated parking, an interior courtyard, a fitness center, a resort-style pool and hot tub, a dog park and a lawn games area. Rockwell is planning a value-add program that will focus on select unit upgrades and amenity enhancements. The site includes developable land for additional apartments on the northeast corner of the site. The acquisition marks Rockwell’s sixth purchase in Arizona and the first in the city of Mesa.
Rockwell Property Co., a Chicago-based investment firm, has acquired Cimarron Apartments in Mesa, Ariz., from a local family that had owned it as part of a portfolio for the past decade.
Rockwell Property Co. Acquires Cimarron in Mesa for $33 Million
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