Monterey Point
Apartments
Mesa, Arizona


This 244 unit luxury rental apartment project in Mesa, Arizona  was purchased in 1992 at a base acquisition price of $9,416,000.00.  The project was legally converted into individual condominiums, but remained rental throughout the period of ownership.  In 1999 the whole project was sold for $13,150,000.00 after some seven years of management, leasing, and upgrading by Granisle Management Systems.