SVN Desert Commercial Advisors spent the final hours in their previous office space deal-making. Like any monumental finale and hours before the office doors closed for the last time, it ended with a bang. After closing approximately $500 million in sale and lease transactions while occupying that suite over the years, the sale of Lindsay Villas Apartments in Mesa sold for $2.8 million in its final hour. SVN Advisor, Danny Lee made a great ending statement for SVN on February 28th, 2017; the same day it closed.
Lindsay Villas Apartments is located at 2850 E. Baseline Road which is just south of the US-60 off Baseline Rd. The 32-unit apartment complex is in close proximity to West Lakes Estates and Val Vista Lakes, an upscale residential neighborhood in Mesa. The complex is also surrounded by several other multifamily properties in the area. The property itself was listed, marketed, and sold in 30 days.
Danny Lee represented the buyer and seller in the sale transaction. “This is a pride of ownership and turnkey property,” said Danny Lee. Lee expressed the buyer wants to diversify his investment from Stocks to commercial real estate investment properties. Moving forward, the seller will be working to find another property in a 1031 exchange.