Henley USA, Modern Residential Acquire Sonoma Villas in Mesa for $22.4M

by Nellie Day

MESA, ARIZ. — A joint venture between Henley USA and Modern Residential Co. has acquired the 265-unit Sonoma Villas apartments in Mesa for $22.4 million. The community is located at 1800 E. Covina St.

Sonoma Villas was built in 1980. The JV plans to enhance the property by making strategic improvements to the common area amenities, apartment interiors, leasing space and clubhouse.

The Jones Group represented the buyer, while David and Steve Gebing of Institutional Property Advisors represented the seller, a joint venture between Mentor Properties and ReNUE Properties, in this transaction.

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