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MESA, ARIZ. — Geringer Capital has sold Avia 266, a 267-unit apartment community in Mesa, to San Diego-based ColRich for $52.4 million, including the assumption of an existing HUD loan. ColRich will rename the property The Remy. Matt Pesch, Asher Gunter and Austin Groen of CBRE represented the seller in the deal.
Completed in 1984, The Remy features one- and two-bedroom units in a low-density garden-style design. Community amenities include two pools and spa areas, a 24/7 fitness center, outdoor courtyard with recreation and gathering spaces, resident clubhouse with a community kitchen, package lockers and a fenced dog park.