Excel Real Estates, Zong-fu Li, principal, paid $3,800,000 ($41,304 per unit) to buy the 92 unit Warren Park apartments located 1433 W. University Dr. in Mesa, Ariz. Wyoming Blvd.
The seller was The Frank and Joanne Warren Trust, c/o Warren Properties of Rancho Santa Fe, California.
The deal was brokered through Bill Hahn, Jeff Sherman and Trevor Koskovich (HSK) of Colliers International in Phoenix. Maricopa County records show the buyer acquired the property with a new loan issued by Opus Bank.
The financing was arranged by Brandon Harrington and Matt Steffen of Walker & Dunlop of Phoenix. The complex was built in 1977.