ARA, Newmark Partners Close Two Properties Totaling $6,325,000

PHOENIX/MESA, ARIZ.  –  ARA, Newmark partners Mike Woodrick and Ryan Ash closed two properties totaling $6,325,000. Oasis in Mesa set a record for price per unit.


Oasis in Mesa – 28 Units

Location: 420 N. 64th Place, Mesa, AZ

Sold Price: $3,200,000

Buyer: Tony T. Coelho, Trustee of the Tony T. Coelho Trust dated October 31, 2005

Seller: Terra Vista Investments USA (2) Limited Partnership c/o David Barnes

Oasis in Mesa is a pride of ownership 28 unit B class community in Northeast Mesa. Within a 5 mile radius of the community are several major employers which include Boeing, Falcon Field, Mesa Community College and 7 golf courses, headlined by two of the highest rated courses in the state with Longbow Golf Club and Las Sendas Golf Club.

At $3.2M and $114,285/unit, the property closed for a record price per unit for Mesa apartment communities under 100 units.


Level on 17th – 29 Units

Location: 6725 N. 17th Ave., Phoenix, AZ

Sold Price – $3,125,000

Buyer: Level on 17th, LLC c/o Benjamin Covaciu

Seller: Joseph R. Gentner and Rebecca A. Gentner

Level on 17th offers the Buyer a majority two-bedroom unit mix, low density single story units with private patios and shaded balconies, attractive grass courtyard with a cabana Island and pebble tech pool, that shows tremendous curb appeal and pride of ownership and is in the path of the expanding and booming Central Phoenix Corridor.


About ARA

ARA is the leading investment advisory firm in the multihousing industry. From marketing the sale of single assets and portfolios to, through the NKF Capital Markets brand, sourcing acquisition and development equity and financing, ARA provides 360-degree solutions for clients. In addition to market-rate and mixed-use properties, we offer specialized services in land, student, seniors, manufactured and affordable housing.

Newmark Knight Frank and ARA are owned by Newmark Group, Inc., which is listed on the NASDAQ Global Select Market under the symbol “NMRK”. Newmark Group, Inc. is a publicly traded subsidiary of BGC Partners, Inc. (BGC), a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol “BGCP”. BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol “BGCA”.

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