Northmarq arranges $49M sale of luxury build-to-rent community in Mesa, AZ

MESA, Ariz. — Northmarq’s Phoenix-based Investment Sales team brokered the $49 million sale of Annex at Cadence, a 135-unit, luxury-built build-to-rent community located in Mesa’s best-selling Eastmark master-planned development.

The team — led by Trevor Koskovich, Jesse Hudson, Ryan Boyle and Logan Baca — represented the seller, Cadence MFP135 Land Group, LLC of Phoenix. The buyer was Goodman Real Estate, Inc. of Seattle.

“The buyer was attracted to Annex at Cadence’s location in Mesa’s Gateway neighborhood, which is surrounded by top-performing schools and supported by the amenity-rich Cadence at Gateway HOA,” said Hudson. “Coupled with an extremely favorable supply story — with very limited new multifamily construction in the immediate area — this community represents a rare and compelling opportunity that aligns well with the buyer’s long-term investment strategy.”

Annex at Cadence is ideally positioned near major employment hubs, including the Elliot Road Technology Corridor and Banner Gateway Mesa, with more than 480,000 jobs within a 10-mile radius. Its location within Eastmark — a 3,200-acre master-planned community — offers residents seamless access to Loop 202 and East Valley’s expanding job market.

East Valley’s high home prices and limited multifamily inventory continue to drive demand for build-to-rent housing. With only two multifamily projects under construction nearby, Annex at Cadence is well-positioned for long-term rent growth.

Developed by Newport Homes, the gated community features two-story farmhouse-style homes with direct-access garages, private patios and upscale finishes. Residents enjoy spacious three-bedroom floor plans and exclusive amenities, including a clubhouse, fitness center, playground and dog park.