Institutional Property Advisors Archives

Apartments near SkySong sell for $20.85M

Apartments near SkySong
by in AZRE Magazine | Multi-Family

Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, completed the sale of Dwell Apartment Homes, a 193-unit apartment property in Scottsdale, Arizona. The $20.85 million sales price equates to $108,031 per unit. “Built in two phases by Wonderbowl Inc. in 1963 and W.R. Schulz &… Read More →

Sun King apartment complex sells for $35.1 million

Sun King apartments include an oversized pool area with a refreshed swimming pool and spa. (Photo courtesy of Institutional Property Advisors)
by in AZRE Magazine | Multi-Family

Institutional Property Advisors (IPA), a Marcus & Millichap division that works with investors, is finished the sale of Sun King, a 360-unit apartment property in Scottsdale, Arizona. Baron Properties purchased the property from CRS Scottsdale Housing Corporation in the $35.1 million deal, which equates to $97,500 per unit. “Completed in 1973, this asset was held and operated by… Read More →

IPA arranges $42M sale of The Isle at Arrowhead Ranch

IPA
by in AZRE Magazine

Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, negotiated the sale of The Isle at Arrowhead Ranch, a 256-unit apartment property in Glendale, Arizona. The $42 million sales price equates to $164,000 per unit. Gebing and Cliff David, a senior director of Marcus &… Read More →

Walker & Dunlop structures $28.6M rehab loan for Mesa apartment

Walker & Dunlop
by in AZRE Magazine | Finance & RE Law

Walker & Dunlop, Inc. (NYSE: WD) announced today it structured a $28,550,000 Fannie Mae Moderate Rehab loan for Whispering Meadows, a garden-style apartment complex in Mesa, Arizona, utilizing the Fannie Mae Green Rewards program. The Fannie Mae Green Rewards program provides improved financing options and enhanced pricing to borrowers who are focused on energy reduction… Read More →

$34.35M apartment community sold by IPA

Walker & Dunlop
by in AZRE Magazine | Multi-Family

Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, negotiated the sale of Whispering Meadows a 432-unit apartment property in Mesa. The $34.35 million sales price equates to nearly $80,000 per unit. Community amenities at Whispering Meadows include two resort-style swimming pools, a colorful clubhouse,… Read More →

IPA sells $58.55M multifamily property

Multifamily property
by in AZRE Magazine | Brokerage

Marcus & Millichap division, Institutional Property Advisors (IPA), brokered the sale of MonteViejo Apartment Homes, a 480-unit multifamily asset located in the rolling hills of northeast Phoenix. The property sold for $58.55 million, or just less than $122,000 per apartment. “Excellent submarket fundamentals, such as high median household income, income growth and high occupancy support MonteViejo’s operational momentum,”… Read More →

Marcus & Millichap’s IPA sells $45.5M multifamily complex

123rf.com: Oleg Dudko
by in AZRE Magazine | Multi-Family

Institutional Property Advisors (IPA), a division of Marcus & Millichap, brokered the sale of Arboretum at South Mountain, a 312-unit apartment community in Ahwatukee Foothills, an urban village adjacent to South Mountain Park in Phoenix. The $45.5 million sales price equates to just less than $146,000 per unit. “This luxurious multifamily community combines the comfort of… Read More →

IPA sells The Reserve at Arrowhead for $64.5M

Reserve at Arrowhead2

Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, announced the sale of The Reserve at Arrowhead, a premier 472-unit multifamily asset in Phoenix. The $64.5 million sales price equates to more than $136,000 per unit. “Developed in two phases between 1998 and 1999… Read More →

IPA sells $42.5M luxury multifamily property

luxury multifamily
by in AZRE Magazine | Multi-Family

Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, announced the sale of Ashton Pointe, a 314-unit multifamily asset in Avondale for $42.5 million. “Located adjacent to Phoenix in the southwest Valley, Ashton Pointe is situated within an area that has more than 89… Read More →

Multifamily Pavilions at Arrowhead sells for $31.6M

sold
by in AZRE Magazine | Multi-Family

Institutional Property Advisors (IPA) announced the $31.6 million sale of The Pavilions at Arrowhead, a 248-unit multifamily community located near 75th Avenue and the Loop 101, a 4,200-acre master-planned community in Glendale. “Operational momentum, supported by excellent submarket fundamentals, has laid the groundwork for the new owner to capitalize on significant loss-to-lease burn-off during the first year of… Read More →

IPA sells Tempe multifamily property for $16.6M

Scottsdale
by in AZRE Magazine | Brokerage | Multi-Family

Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, announced the sale of Cabana on McClintock, a 181-unit multifamily property in Tempe for $16.6 million. IPA senior director Steve Gebing and Marcus & Millichap vice president investments Cliff David advised the seller, Deco Communities,… Read More →

IPA arranges sale of Ahwatukee multifamily complex

IPA

Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, has arranged the sale of Mountainside, a 288-unit luxury apartment complex located on more than 14 acres within Mountain Park Ranch, a 2,500-acre master-planned community in the urban village of Ahwatukee in Phoenix. The terms… Read More →

Marcus & Millichap arrange sale of 76-unit property

123rf.com: Vadim Guzhva

Marcus & Millichap announced the sale of Candela Park, a 76-unit apartment property located in Mesa, AZ, according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $5,925,000. Cliff David, a Marcus & Millichap vice president investments, Steve Gebing, a senior director with Institutional Property Advisors, a division of Marcus… Read More →

IPA sells southeast valley multifamily complex for $18.6M

Bayview

Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, has sold Bayview Apartments, a 204-unit multi-housing community in Mesa, Ariz. The $18.6 million sales price equates to more than $91,000 per unit. IPA senior director Steve Gebing and Marcus & Millichap senior director Cliff David… Read More →