Steve Gebing Archives

Institutional Property Advisors closes $41.4M in multifamily deals

by in AZRE Magazine | Brokerage | Multi-Family

Institutional Property Advisors (IPA), a division of Marcus & Millichap, closed $41.4 million in deals recently.  Value-Add Multi-Housing Asset Sold by IPA in Phoenix IPA announced the sale of Sonoma Villas, a 265-unit multifamily asset in Mesa, Arizona. The $22.4 million sales price equates to $84,528 per unit. “Constructed in 1980, Sonoma Villas provides new… Read More →

Dolce Villagio in Tempe sells for $270,270 per unit

by in AZRE Magazine | Multi-Family

Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Dolce Villagio, a 37-unit apartment community in Tempe, Arizona. The sales price is $10 million, which equates to $270,270 per unit. “Dolce Villagio delivers sophisticated living in an unparalleled location surrounded by… Read More →

IPA closes $217M in multifamily property sales in 16 days

by in AZRE Magazine | Newsmakers

IPA (Institutional Property Advisors) announced today that Steve Gebing and Cliff David, senior managing directors, closed five multifamily property transactions totaling $217 million and 1,699 units between May 30 and June 15 in the Phoenix metropolitan statistical area (MSA). “Strong underlying macroeconomic fundamentals in the Phoenix MSA and our team’s experience aligning institutional and major… 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 →

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 →

Tucson apartments sell for $3.12M

sold
by in AZRE Magazine | Multi-Family

Marcus & Millichap (NYSE: MMI), a commercial real estate investment services firm with Phoenix offices, completed the sale of Tucson apartments, the Desert Cove, a 70-unit apartment property. Don Morrow, regional manager of the firm’s Phoenix office, said the asset sold for $3,120,000. Hamid Panahi, James Crawley, Cliff David and Steve Gebing, investment specialists in Marcus &… 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 arranges sale of Ahwatukee multifamily complex

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

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 →

Southwest Valley apartment building sells for $12.1M

Marcus & Millichap has sold Marble Creek, a 244-unit apartment property in Phoenix. The asset sold for $12,100,000. Cliff David, a Marcus & Millichap vice president investments, and Steve Gebing, a senior director with Institutional Property Advisors, a division of Marcus & Millichap, both in the firm’s Phoenix office, handled the sale on behalf of the… Read More →

Sunflower apartments in Tucson sell for $4.1M

Marcus & Millichap announced the sale of Sunflower, a 144-unit apartment property located in Tucson, AZ, according to Don Morrow, regional manager of the firm’s Phoenix office. The asset sold for $4,100,000. Hamid Panahi, Cliff David and Steve Gebing, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property… Read More →

Villas at Cave Creek in Phoenix now under new ownership

by in AZRE Magazine | Brokerage | In The Spotlight

Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, has sold Villas at Cave Creek, a 696-unit multifamily community in Phoenix. The terms of the sale were not released. IPA senior director Steve Gebing and Marcus & Millichap vice president investments Cliff David advised the seller,… Read More →

Cabana apartments in Tempe trades hands at $5 million

Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has arranged the sale of Cabana on Seventh, a 74-unit apartment property in north central Phoenix. The $5 million sales price equates to $67,568 per unit. Steve Gebing, a senior director of Institutional Property… Read More →

Cortona at Dana Park sells for $22.1M

Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Cortona at Dana Park, a 222-unit multifamily community in Mesa, Ariz. The $22.1 million sales price equates to $99,550 per unit. IPA senior director Steve Gebing and Marcus & Millichap vice president investments Cliff David advised the seller, Virtú Investments. The… Read More →