MESA, ARIZ. – Fairfield Residential Company LLC has acquired the 676-unit Lakeview at Superstition Springs in Mesa for $66.6 million. The community is located at 1849 S. Power Road.
Notable employers in the area include Banner Gateway Hospital, Banner Baywood Hospital, The Boeing Company’s Arizona headquarters and Apple’s future production facility. Grand Canyon University is also developing a 10,000-student campus five miles from the community.
Lakeview was built in two phases in 1995 and 1998. Community amenities include four resort-style swimming pools, a resident clubhouse, a 24-hour fitness center, a basketball court, two playgrounds, resident business center, picnic areas and BBQ grills. It was 95 percent leased at the time of sale.
The institutional seller was represented by Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE’s Phoenix office.