NextGen Divests of Craft @ Gilbert & Baseline Apartments in Mesa, Arizona for $45M

by Amy Works

MESA, ARIZ. — NextGen Apartments has completed the disposition of Craft @ Gilbert & Baseline, a multifamily community in Mesa. An undisclosed buyer acquired the asset for $45 million, or $432,692 per unit.

Completed in 2019, Craft @ Gilbert & Baseline features 104 apartments in a mix of one- and two-bedroom open-concept layouts that average 1,018 square feet. Units feature full-size washers/dryers, smart home features and garage access. Community amenities include a resort-style swimming pool, outdoor yoga space, grilling stations and a firepit.

Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.

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