Marcus & Millichap's Institutional Property Advisors Closes $187.5 Million Multifamily Asset Sale in Phoenix [Yahoo! Finance]
Marcus & Millichap, Inc. (MMI)
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Source: Yahoo! Finance
division of Marcus & Millichap (NYSE:MMI) , announced today the sale of Desert Club, a 497-unit multifamily asset in Phoenix, Arizona. The property sold for $187.5 million, or $377,264 per unit. The transaction is the largest single asset multifamily sale in Arizona in over two years and one of the ten largest single asset multifamily sales in the United States year-to-date. "Unprecedented, 20-year consecutive institutional ownership is a testament to Desert Club's differentiated physical attributes and the unrivaled appeal of North Scottsdale, Arizona's most sought-after submarket," said Steve Gebing, IPA executive managing director. "The setting offers immediate accessibility to two of the nation's finest open-air retail centers, Scottsdale Quarter and Kierland Commons, featuring hundreds of high-end tenants that cater to a market-leading demographic base with average and median annual household incomes of $157,000 and $109,000, respectively." Gebing and IPA executive managing dir
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News
- Marcus & Millichap, Inc. Reports Results for Third Quarter 2024 [Yahoo! Finance]Yahoo! Finance
- Marcus & Millichap, Inc. Reports Results for Third Quarter 2024Business Wire
- Marcus & Millichap's IPA Capital Markets Arranges $63 Million Multifamily Refinance in Greater Austin [Yahoo! Finance]Yahoo! Finance
- Marcus & Millichap’s IPA Capital Markets Arranges $63 Million Multifamily Refinance in Greater AustinBusiness Wire
- Marcus & Millichap’s IPA Capital Markets Arranges $110 Million in Agency Financing and Joint Venture Partnership for Connecticut Multifamily AcquisitionBusiness Wire
MMI
Sec Filings
- 11/8/24 - Form 10-Q
- 11/8/24 - Form 8-K
- 10/15/24 - Form SC
- MMI's page on the SEC website