N. Phoenix Apartments Trade for $58.7M
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$58.7M Multifamily Asset Sale Closed by Institutional Property Advisors in North Phoenix
Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) dedicated to serving the company’s institutional clients, announced the sale of Ascend at Black Canyon, a 260-unit multifamily property in Phoenix, Arizona. The asset traded for $58.7 million, or $225,769 per unit. “North Phoenix is positioned to generate tens of thousands of high-earning […]
N. Phoenix Apartments Trade for $58.7M
Institutional Property Advisors (IPA) brokered the sale of Ascend at Black Canyon, a 260-unit multifamily property in Phoenix, Arizona. The asset traded for $58.7 million, or $225,769 per unit. DR Horton was the seller, Millburn & Company the buyer. Steve Gebing and Cliff David, IPA executive managing director of investments, represented the seller and procured the buyer. IPA’s Gebing added, “North Phoenix is positioned to generate tens of thous…
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