Institutional Property Advisors Archives

IPA sells 424-unit Green Leaf Promontory Pointe

by in AZRE Magazine | Brokerage

Institutional Property Advisors (IPA) announced today the sale of Green Leaf Promontory Pointe, a luxury, 424-unit apartment complex in North Central Phoenix, Arizona. The asset sold for an undisclosed price. “Green Leaf Promontory Pointe enjoys a coveted position within the submarket’s competitive landscape, particularly with its topography and striking mountain views,” says Cliff David, senior… Read More →

IPA brokers $77 million apartment asset sale in Tempe

by in AZRE Magazine | Multi-Family

Institutional Property Advisors (IPA) announced the sale of Onnix, a 659-unit apartment property in Tempe, Arizona. The $77,050,000 sales price equates to $116,920 per unit. “The physical improvements made to Onnix, its excellent location and tremendous scale place the property in an enviable position within the competitive landscape of Tempe,” says Cliff David, senior managing… Read More →

IPA brokers $55.2M sale of Indigo Creek

by in AZRE Magazine

Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, announced the sale of Indigo Creek, a 408-unit multifamily community in Glendale, Arizona. The $55.2 million sales price represents more than $135,000 per unit.  “Indigo Creek is a vibrant, luxury multifamily asset that provides new… Read More →

Capital firm buys Chandler apartments for $28.75M

Chandler apartments
by in AZRE Magazine | Multi-Family

Capital Real Estate purchased a 203-unit Chandler apartment complex for $28.75 million from Stratford Partners, according to Institutional Property Advisors (IPA), a division of Marcus & Millichap. Palm Trails Apartments were built in 2002 by CMH Corp., and is located at 235 E. Ray Rd., in Chandler. The price for the apartment community equates to $141,626 per… Read More →

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

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

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

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 →