• IPA Sells $27 Million Phoenix-Area Multi-Housing Asset

    IPA Sells $27 Million Phoenix-Area Multi-Housing Asset0

    MESA, Ariz., May 15, 2019 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of Verde Dimora, a 153-unit multifamily asset in Mesa, Arizona. The sales price is $27 million, which equates to $176,470 per unit. “Verde Dimora gives residents optimal access to the rapidly expanding professional landscape of northeast Mesa and

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  • Berkadia Completes $39.75 Million Sale of Multifamily Property in Arizona

    Berkadia Completes $39.75 Million Sale of Multifamily Property in Arizona0

    PHOENIX, ARIZ. – Berkadia today announced the $39.75 million sale of Modern on the Rail, a 488-unit garden-style multifamily property in Phoenix, Arizona. Senior Managing Directors Mark Forrester and Ric Holway and Senior Director Dan Cheyne of Berkadia’s Phoenix office secured the sale on behalf of the seller, California-based Modern Residential Company. The buyer was California-based

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  • SkySong 5 Tops 70 Percent Occupancy Months Before Completion

    SkySong 5 Tops 70 Percent Occupancy Months Before Completion0

    Momentum Continues As SkySong 5, Hotel To Open in Summer 2019 SCOTTSDALE, ARIZ. — Leasing interest remains strong in the buildings at SkySong, with the newest building on the property achieving 73 percent occupancy months before opening. With significant leases from Arizona State University — which is taking two floors in the six-story building —

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  • Issue 2, 2019

    Issue 2, 20190

    Commercial Executive Magazine’s spring issue features Jorge Pérez and Steve Patterson of Related Group on the cover. Read about the renowned “Condo King” and the company’s $500 million commercial real estate impact on the Valley. Our Broker of the Month this issue is Will Strong with Cushman & Wakefield. Other exciting features include Wolverine Builders,

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  • NKF Multifamily Sale of Value-Add Housing Reinforces Asset Type as Top Investment Strategy in Metro Phoenix

    NKF Multifamily Sale of Value-Add Housing Reinforces Asset Type as Top Investment Strategy in Metro Phoenix0

    Phoenix, Ariz. — Newmark Knight Frank Multifamily announces the $22.2 million sale of Cabana at the Pointe, a 180-unit, garden-style community located at 1829 East Morten Avenue in central Phoenix. According to Preqin, value-add multifamily housing had a massive surge in investor fundraising last year, nationally. 2018 was a record-setting year for real estate investors,

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  • Urban Core Phoenix Apartment Complex Sold by IPA for $52 Million

    Urban Core Phoenix Apartment Complex Sold by IPA for $52 Million0

    Phoenix, Ariz. – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of Alta Midtown, a 225-unit apartment complex in Midtown Phoenix. The property sold for $52 million, which equates to $231,111 per unit. “Alta Midtown satisfies the demand of young urban professionals for highly amenitized transit-oriented apartment

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