U.S. Westmount Realty bags $23.2 mln apartments community in Mesa

U.S. investment manager Prospect Ridge has divested Nine 4 Nine at the District, a Class B apartments community in Mesa, Arizona, to real estate developer Westmount Realty Capital for $23.2 million.

Nine 4 Nine at the District, located at 949 South Longmore, occupies more than 6 acres just off Freeway 60, providing easy access to downtown Phoenix and the Phoenix Sky Harbor International Airport.

As part of the deal, Westmount Realty intends to rebrand the asset as Westmount at the District, install a package locker system and also implement a new valet trash program.

Additionally, Westmount Realty is planning to update the 154-unit Nine 4 Nine at the District by renovating the units and implementing smart home features.