Thursday, October 29, 2015

Bayside at the Islands Apartments Sell for $33.5 Million

Area Map

The 272-unit Bayside at the Islands Apartments in Gilbert sold Tuesday for $33.5 million, or over $123,000 per unit. Southwest Capital Ventures purchased the property care of PB Bell, funded by a $27 million Freddie Mac loan. Mercury Investments was the seller in this transaction.

These waterfront apartments are located east of the northeast corner of McQueen and Warner Roads. It has a unit mix of one, two, and three-bedroom floorplans, in-unit washer and dryer, pool, and basketball/volleyball court. They were built in 1987 on twelve acres.

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