SOURCE: Thomas Bradford Communities

Thomas Bradford Communities

February 02, 2015 16:10 ET

Thomas Bradford Communities Acquires Newport Mesa Apartments in Mesa, Arizona

Residential Investment and Development Company Renames Apartments; Plans to Revive Community Located in the Eclectic Fiesta District

MESA, AZ--(Marketwired - Feb 2, 2015) - Thomas Bradford Communities has acquired Newport Mesa Apartments at 1620 W. Southern Avenue in Mesa's Fiesta District and is launching an "urban repositioning campaign" that will bring a fresh, updated feel to the 156-unit property, which has been renamed Urban Trails @ The District.

"With its urban location near Starbucks, Pita Jungle and other trend-setting retailers, this property will attract everyone from millennials to empty nesters seeking a walkable environment on the urban trails' (sidewalks)," said Thomas Bradford Communities principal Mitchell Bradford. "With WiFi and cable music in and around the lounge, business center and the resort-style pool and spa, the atmosphere will be significantly enhanced."

The community, built in 1974, is comprised of eight two-story buildings on 5.51 acres. In addition to upgrading the amenities, Thomas Bradford Communities will initially make renovations to apartments as they vacate that will include upgrades to lighting, plumbing and flooring, along with adding accent paints and other "unique" upgrades to fit with the eclectic theme.

Urban Trails @ The District is directly east of Phoenix Rising Investments' Centrica project, a 140,000-square-foot adaptive reuse conversion that is transforming a closed shopping center into a vibrant Class A office campus. In addition, the City of Mesa recently completed an $11,000,000 capital improvement along Southern Avenue to enhance the Fiesta District retail area. These improvements include an upgraded street scene with wider boulevards on West Southern Avenue, and a pedestrian trail with enhanced landscaping and lighting.

Honoring their company's values, Bradford plans to create a new environment that embraces the uniqueness of the area, while inspiring resident to "love where they live."

The City of Mesa is the third largest city in the Phoenix Metro area. Urban Trails is adjacent to popular retailers and major employers such as Banner Health and Mesa Community College. The community is also minutes from Arizona State University (ASU) and Scottsdale.

Steve Nicoluzakis and David Fogler with Cassidy Turley/DTZ were the brokers representing the seller.

Real estate professionals Bradford and Peter H. Thomas launched Thomas Bradford Communities earlier this year with plans to acquire $100 million worth of residential assets in the next 24 to 36 months. They're focusing on repositioning existing multifamily communities ranging from 50 to 400 units in desirable locations in Arizona, Southern California and Nevada.

"We want people to feel good about where they live and to know we really care about creating positive environments for them to enjoy their lives," Thomas said.

About Thomas Bradford Communities
Thomas Bradford Communities (TBC) is a residential investment and development company with offices in Phoenix, Arizona, and Newport Beach, California. A key component of the company's focus is the purchase and repositioning of multifamily communities. With its unique approach to rebranding and recreating assets, TBC acquires mature properties and transforms them into contemporary, eclectic communities where residents of all ages can enjoy a redesigned living environment that inspires and propels an authentic lifestyle free of the usual conventions. www.thomasbradfordcommunities.com.