Thompson Thrift Disposes of Build-to-Rent Community in Peoria, Arizona for $45.8M

Institutional Property Advisors Brokers $45M Sale of Suburban Phoenix Build-to-Rent Multifamily Asset Grandstone at Sunrise

Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Grandstone at Sunrise, a 140-unit build-to-rent housing property in Peoria, Arizona. The $45.85 million sales price equates to $327,500 per unit. “Shifting lifestyle preferences and a growing desire for flexibility […] The post Institutional Property Advisors Brokers $4…

Thompson Thrift Disposes of Build-to-Rent Community in Peoria, Arizona for $45.8M

PEORIA, ARIZ. — Thompson Thrift has completed the sale of Grindstone at Sunrise, a build-to-rent multifamily community in Peoria, to an undisclosed buyer for $45.8 million, or $327,500 per unit. Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Completed in 2021, Grindstone at Sunrise features 140 one- and two-story homes in one-, two- and…