Pennytree Apartments
Mesa, Arizona
Originally built in the 1960’s, the 146-unit property, Pennytree Apartments, is strategically situated at 232 S. MacDonald, which is less than a mile from the growing number of eateries, breweries and local retail options in Downtown Mesa.
At the time of transaction, the property remains 99 percent occupied. In the coming months, Sterling’s management team will implement its strategic capital improvement business plan. Pennytree Apartments will be repositioned and renovated to include repainting, landscaping, enhanced curb appeal and renovating the clubhouse, pool, common areas and unit interiors with a modern appearance.