• Remington Ranch Sells for $58.5 Million in the West Valley

    Remington Ranch Sells for $58.5 Million in the West Valley0

    Phoenix, Ariz. – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of Remington Ranch, a 304-unit multifamily asset in the Phoenix metro area. The asset sold for $58.5 million, or $192,434 per unit. “Remington Ranch combines great amenities among the robust economic developments in the rapidly expanding

    READ MORE
  • Newmark Knight Frank Multifamily Brokers $24.5 Million, Value-Add Asset

    Newmark Knight Frank Multifamily Brokers $24.5 Million, Value-Add Asset0

    PHOENIX, ARIZ. — Newmark Knight Frank (NKF) Multifamily announces the $24.5 million sale of Greenway Springs Apartments, a 240-unit, value-add property located at 15620 North 25thAvenue in Phoenix. Executive Managing Director Brad Goff, Senior Managing Director Brett Polachek and Director Chris Canter represented the seller, Rae & Associates, a privately held company in Mesa, Arizona. The buyer

    READ MORE
  • Thayer Manca Residential confidently re-enters Tucson, AZ market

    Thayer Manca Residential confidently re-enters Tucson, AZ market0

    SEATTLE, WA – Thayer Manca Residential (TMR), a multifamily investment firm based in Seattle, made their first purchase since 2000 in the Tucson, Arizona market. TMR purchased the 368 unit, Palm Canyon Apartments for $40,300,000.  Palm Canyon Apartments is a garden style apartment community with outstanding value-add potential in an excellent, northwest Tucson location. Its well-built

    READ MORE
  • Strong Apartment Performance and Low Interest Rates Draw Buyers to Phoenix

    Strong Apartment Performance and Low Interest Rates Draw Buyers to Phoenix0

    Apartment Construction Falls Short of Residential Demand; Average Effective Rent Skyrockets Economic growth underpins strong apartment absorption. Corporate expansions continue to drive in-migration as companies and job seekers seek refuge from the high costs found in other major metros. Allstate Insurance is building a new corporate campus that will provide employment for approximately 2,500 people.

    READ MORE
  • $71.75 Million Buys Award-Winning Suburban Phoenix Multifamily Asset

    $71.75 Million Buys Award-Winning Suburban Phoenix Multifamily Asset0

    CHANDLER, ARIZ., Aug. 14, 2019 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of Alta San Marcos, a 273-unit suburban phoenix apartment complex in Chandler, Arizona. The property sold for $71.75 million, or $262,821 per unit. The community will be renamed Summit at San Marcos. “This asset is one of just three multifamily

    READ MORE
  • Berkadia Negotiates $13.5M Two-Property Multifamily Sale

    Berkadia Negotiates $13.5M Two-Property Multifamily Sale0

    SCOTTSDALE, ARIZ. – August 13, 2019 – Berkadia announced today the sale of Scottsdale 5th Avenue, a 59-unit, garden-style multifamily property in Scottsdale, Arizona as well as Oak Tree, a 76-unit, garden-style community in Phoenix, Arizona. Ric Holway and Mark Forrester, Senior Managing Directors, and Dan Cheyne Senior Director of Berkadia’s Phoenix office led the

    READ MORE