March 2, 2018
Colleagues say that Cliff David and Steve Gebing have achieved “extreme success” in selling apartment properties throughout Arizona. Based in the Phoenix offices of Institutional Property Advisors (IPA), a division of Marcus & Millichap, Gebing and David closed 41 deals in 2017 for a total of nearly $1 billion.
Those deals include landmark transactions like The Lofts at Rio Salado. The 466-unit property was built on land leased from a public entity. It sold for $75.5 million, or $162,017 per unit.