July 5, 2017
Early Bird Alert: Connect Apartments is planned September 28th in Los Angeles. Here’s where to get more information and register.
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)
For comments, questions or concerns, please contact Dennis Kaiser