Media

IPA team closes 7 multifamily deals in 60 days for $486M

March 06, 2020

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today that between December 2019 and January 2020, IPA senior managing directors Steve Gebing and Cliff David completed $486 million in multifamily transactions totaling 2406 units in the Phoenix Metropolitan Area. The Phoenix-based team began 2020 with $200 million in closings in the Phoenix Metro and have completed $1,876,517,677 in multifamily sales in the past 12 months.

“The multifamily investment market in Phoenix continues its dynamic run,” said Gebing. “The city’s business-friendly environment, lower expenses and highly educated workforce keep it in a leadership position as one of the nation’s fastest-growing economies. Healthy job gains, favorable yields and the attraction of capturing upside have been the main catalysts pumping investment capital into the apartment sector this cycle,” Gebing added.

Read the Full Article
MM Texture Background