ColRich Pays $52.4M for Mesa Rental Community

ColRich acquired Avia 266, a 267-unit multifamily community in Mesa, AZ, for $52.4 million, including the assumption of an existing HUD loan. The buyer intends to rename the property The Remy. The sales price comes out to just under $200,000 a unit. Geringer Capital was the seller. Geringer paid $45.25 million for…