July 5, 2017 Comments Off on Marcus & Millichap Team Closes $217M in PHX MF Deals Views: 815 Arizona, National News, Southwest

Marcus & Millichap Team Closes $217M in PHX MF Deals

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Marcus & Millichap closed five multifamily property transactions with a combined deal value of $217 million and totaling 1,699 units in the Phoenix Metro. Marcus & Millichap Institutional Properties Advisors division’s Steve Gebing and Cliff David handled the five multifamily property transactions.

Gebing says, “Strong underlying macroeconomic fundamentals in the Phoenix MSA, and our team’s experience aligning institutional and major private investors with value-add multifamily investment opportunities, produced an exceptional level of transaction velocity and sales volume during the last two weeks.”

The properties included:

  • Village Green, 112 units, Mesa, $7.7 million (Buyer: MLA Properties)
  • Onnix, 659 units, Tempe, $77 million (Buyer: Bridge Investment Group)
  • Broadstone Gateway, 240 units, Avondale, $30.75 million (Buyer: TruAmerica)
  • Green Leaf Promontory Pointe (pictured), 424 units, Phoenix, $54.4 million (Buyer: Greystar)
  • Pinnacle at Union Hills, 264 units, Phoenix, $47.5 million (Buyer: Pure Multi-Family REIT)

Read more at Business Wire

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