Category: Marcus & Millichap

$75.5 million Greater Phoenix apartment complex sold by International Property Advisors

Liv Goodyear
Institutional Property Advisors announced the sale of Liv Goodyear, a 326-unit multifamily asset in Goodyear, Arizona.


Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced today the sale of Liv Goodyear, a 326-unit multifamily asset in Goodyear, Arizona. The property sold for $75.5 million, or $231,595 per unit.

“Liv Goodyear is surrounded by the economic and infrastructure developments of Greater Phoenix’s next professional powerhouse, the Southwest Valley,” said Steve Gebing, IPA senior director. “The continuous success of the Phoenix region is driving focus from the tenured employment corridors of the Southeast Valley to the lucrative, long-term business opportunities of the Southwest Valley.” Gebing and IPA senior managing director Cliff David represented the seller and procured the buyer, a Canadian private investor.

Residents of Liv Goodyear have immediate access to Interstate 10, Loop 303—Bob Stump Memorial Highway, Loop 101—the Agua Fria Freeway, and the ongoing Loop 202 South Mountain expansion. Civic Square at Estrella Falls, an approximately 48-acre, $83 million project to build a city hall, library, and Class A office space is less than a mile away. Litchfield Park City Center, a community-oriented, 768,000-square-foot, mixed-use development is 3.2 miles from the property and the Market at Estrella Falls shopping center is close by.

Completed in 2019 on more than 16 acres, apartments at Liv Goodyear have nine-foot ceilings and the average unit size is 879 square feet. Community amenities include a resort-style saltwater pool and spa with abundant seating, outdoor barbecues and gaming areas.



Marcus & Millichap arranges the sale of a 28-unit apartment building in Sarasota, Florida

Phillippi Shores Village
Marcus & Millichap announced the sale of Phillippi Shores Village, a 28-unit apartment property located in Sarasota, Florida


Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Phillippi Shores Village, a 28-unit apartment property located in Sarasota, Fla., according to Chris Travis, sales manager of the firm’s Tampa office. The asset sold for $3,465,000.

Adam Podbelski, Jason Hague and Ned Roberts, CCIM, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was also secured and represented by Adam Podbelski, Jason Hague and Ned Roberts, CCIM.

“Phillippi Shores offered a very strong takeover yield for a stabilized asset located an area that has been in very high demand,” said Podbelski.  “This allowed us to create substantial interest and ultimately close on an all-cash basis within 23 calendar days of the effective date,” added Podbelski.

Phillippi Shores Village is located at 1872 Phillippi Shores Drive in Sarasota, Fla.  All units at Phillippi Shores Village feature high-end condo-grade finishes that include new granite countertops with undermount sinks, new cabinetry, new stainless-steel appliances, new wood-look vinyl-plank flooring and new fixtures.

“We sold this asset to the current seller in 2018 after negotiating an assignment of contract from another prospective buyer,” said Roberts.  “We are very pleased they were able to exceed our projection of added value achievable through a full-scale renovation of the asset,” he added.”

Phillippi Shores Village is located five minutes to Siesta Key Beach and the Westfield Siesta Key Mall.  The property is also 10 minutes to Downtown Sarasota.

$75.5 million Greater Phoenix apartment complex sold by International Property Advisors

Liv Goodyear
Institutional Property Advisors announced the sale of Liv Goodyear, a 326-unit multifamily asset in Goodyear, Arizona.


Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced today the sale of Liv Goodyear, a 326-unit multifamily asset in Goodyear, Arizona. The property sold for $75.5 million, or $231,595 per unit.

“Liv Goodyear is surrounded by the economic and infrastructure developments of Greater Phoenix’s next professional powerhouse, the Southwest Valley,” said Steve Gebing, IPA senior director. “The continuous success of the Phoenix region is driving focus from the tenured employment corridors of the Southeast Valley to the lucrative, long-term business opportunities of the Southwest Valley.” Gebing and IPA senior managing director Cliff David represented the seller and procured the buyer, a Canadian private investor.

Residents of Liv Goodyear have immediate access to Interstate 10, Loop 303—Bob Stump Memorial Highway, Loop 101—the Agua Fria Freeway, and the ongoing Loop 202 South Mountain expansion. Civic Square at Estrella Falls, an approximately 48-acre, $83 million project to build a city hall, library, and Class A office space is less than a mile away. Litchfield Park City Center, a community-oriented, 768,000-square-foot, mixed-use development is 3.2 miles from the property and the Market at Estrella Falls shopping center is close by.

Completed in 2019 on more than 16 acres, apartments at Liv Goodyear have nine-foot ceilings and the average unit size is 879 square feet. Community amenities include a resort-style saltwater pool and spa with abundant seating, outdoor barbecues and gaming areas.



Marcus & Millichap arranges the sale of a 28-unit apartment building in Sarasota, Florida

Phillippi Shores Village
Marcus & Millichap announced the sale of Phillippi Shores Village, a 28-unit apartment property located in Sarasota, Florida


Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Phillippi Shores Village, a 28-unit apartment property located in Sarasota, Fla., according to Chris Travis, sales manager of the firm’s Tampa office. The asset sold for $3,465,000.

Adam Podbelski, Jason Hague and Ned Roberts, CCIM, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was also secured and represented by Adam Podbelski, Jason Hague and Ned Roberts, CCIM.

“Phillippi Shores offered a very strong takeover yield for a stabilized asset located an area that has been in very high demand,” said Podbelski.  “This allowed us to create substantial interest and ultimately close on an all-cash basis within 23 calendar days of the effective date,” added Podbelski.

Phillippi Shores Village is located at 1872 Phillippi Shores Drive in Sarasota, Fla.  All units at Phillippi Shores Village feature high-end condo-grade finishes that include new granite countertops with undermount sinks, new cabinetry, new stainless-steel appliances, new wood-look vinyl-plank flooring and new fixtures.

“We sold this asset to the current seller in 2018 after negotiating an assignment of contract from another prospective buyer,” said Roberts.  “We are very pleased they were able to exceed our projection of added value achievable through a full-scale renovation of the asset,” he added.”

Phillippi Shores Village is located five minutes to Siesta Key Beach and the Westfield Siesta Key Mall.  The property is also 10 minutes to Downtown Sarasota.



$75.5 million Greater Phoenix apartment complex sold by International Property Advisors

Liv Goodyear
Institutional Property Advisors announced the sale of Liv Goodyear, a 326-unit multifamily asset in Goodyear, Arizona.

Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced today the sale of Liv Goodyear, a 326-unit multifamily asset in Goodyear, Arizona. The property sold for $75.5 million, or $231,595 per unit.

“Liv Goodyear is surrounded by the economic and infrastructure developments of Greater Phoenix’s next professional powerhouse, the Southwest Valley,” said Steve Gebing, IPA senior director. “The continuous success of the Phoenix region is driving focus from the tenured employment corridors of the Southeast Valley to the lucrative, long-term business opportunities of the Southwest Valley.” Gebing and IPA senior managing director Cliff David represented the seller and procured the buyer, a Canadian private investor.

Residents of Liv Goodyear have immediate access to Interstate 10, Loop 303—Bob Stump Memorial Highway, Loop 101—the Agua Fria Freeway, and the ongoing Loop 202 South Mountain expansion. Civic Square at Estrella Falls, an approximately 48-acre, $83 million project to build a city hall, library, and Class A office space is less than a mile away. Litchfield Park City Center, a community-oriented, 768,000-square-foot, mixed-use development is 3.2 miles from the property and the Market at Estrella Falls shopping center is close by.

Completed in 2019 on more than 16 acres, apartments at Liv Goodyear have nine-foot ceilings and the average unit size is 879 square feet. Community amenities include a resort-style saltwater pool and spa with abundant seating, outdoor barbecues and gaming areas.

$75.5 million Greater Phoenix apartment complex sold by International Property Advisors

Liv Goodyear
Institutional Property Advisors announced the sale of Liv Goodyear, a 326-unit multifamily asset in Goodyear, Arizona.

Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced today the sale of Liv Goodyear, a 326-unit multifamily asset in Goodyear, Arizona. The property sold for $75.5 million, or $231,595 per unit.

“Liv Goodyear is surrounded by the economic and infrastructure developments of Greater Phoenix’s next professional powerhouse, the Southwest Valley,” said Steve Gebing, IPA senior director. “The continuous success of the Phoenix region is driving focus from the tenured employment corridors of the Southeast Valley to the lucrative, long-term business opportunities of the Southwest Valley.” Gebing and IPA senior managing director Cliff David represented the seller and procured the buyer, a Canadian private investor.

Residents of Liv Goodyear have immediate access to Interstate 10, Loop 303—Bob Stump Memorial Highway, Loop 101—the Agua Fria Freeway, and the ongoing Loop 202 South Mountain expansion. Civic Square at Estrella Falls, an approximately 48-acre, $83 million project to build a city hall, library, and Class A office space is less than a mile away. Litchfield Park City Center, a community-oriented, 768,000-square-foot, mixed-use development is 3.2 miles from the property and the Market at Estrella Falls shopping center is close by.

Completed in 2019 on more than 16 acres, apartments at Liv Goodyear have nine-foot ceilings and the average unit size is 879 square feet. Community amenities include a resort-style saltwater pool and spa with abundant seating, outdoor barbecues and gaming areas.

Marcus & Millichap arranges the sale of a 28-unit apartment building in Sarasota, Florida

Phillippi Shores Village
Marcus & Millichap announced the sale of Phillippi Shores Village, a 28-unit apartment property located in Sarasota, Florida

Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Phillippi Shores Village, a 28-unit apartment property located in Sarasota, Fla., according to Chris Travis, sales manager of the firm’s Tampa office. The asset sold for $3,465,000.

Adam Podbelski, Jason Hague and Ned Roberts, CCIM, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was also secured and represented by Adam Podbelski, Jason Hague and Ned Roberts, CCIM.

“Phillippi Shores offered a very strong takeover yield for a stabilized asset located an area that has been in very high demand,” said Podbelski.  “This allowed us to create substantial interest and ultimately close on an all-cash basis within 23 calendar days of the effective date,” added Podbelski.

Phillippi Shores Village is located at 1872 Phillippi Shores Drive in Sarasota, Fla.  All units at Phillippi Shores Village feature high-end condo-grade finishes that include new granite countertops with undermount sinks, new cabinetry, new stainless-steel appliances, new wood-look vinyl-plank flooring and new fixtures.

“We sold this asset to the current seller in 2018 after negotiating an assignment of contract from another prospective buyer,” said Roberts.  “We are very pleased they were able to exceed our projection of added value achievable through a full-scale renovation of the asset,” he added.”

Phillippi Shores Village is located five minutes to Siesta Key Beach and the Westfield Siesta Key Mall.  The property is also 10 minutes to Downtown Sarasota.

Marcus & Millichap arranges the sale of a 28-unit apartment building in Sarasota, Florida

Phillippi Shores Village
Marcus & Millichap announced the sale of Phillippi Shores Village, a 28-unit apartment property located in Sarasota, Florida

Marcus & Millichap, a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Phillippi Shores Village, a 28-unit apartment property located in Sarasota, Fla., according to Chris Travis, sales manager of the firm’s Tampa office. The asset sold for $3,465,000.

Adam Podbelski, Jason Hague and Ned Roberts, CCIM, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was also secured and represented by Adam Podbelski, Jason Hague and Ned Roberts, CCIM.

“Phillippi Shores offered a very strong takeover yield for a stabilized asset located an area that has been in very high demand,” said Podbelski.  “This allowed us to create substantial interest and ultimately close on an all-cash basis within 23 calendar days of the effective date,” added Podbelski.

Phillippi Shores Village is located at 1872 Phillippi Shores Drive in Sarasota, Fla.  All units at Phillippi Shores Village feature high-end condo-grade finishes that include new granite countertops with undermount sinks, new cabinetry, new stainless-steel appliances, new wood-look vinyl-plank flooring and new fixtures.

“We sold this asset to the current seller in 2018 after negotiating an assignment of contract from another prospective buyer,” said Roberts.  “We are very pleased they were able to exceed our projection of added value achievable through a full-scale renovation of the asset,” he added.”

Phillippi Shores Village is located five minutes to Siesta Key Beach and the Westfield Siesta Key Mall.  The property is also 10 minutes to Downtown Sarasota.

Institutional Property Advisors brokers suburban Seattle multifamily sale

Summit Apartments
Institutional Property Advisors announced the sale of The Summit Apartments, a 96-unit multifamily asset in Redmond, Washington.


Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced today the sale of The Summit Apartments, a 96-unit multifamily asset in Redmond, Washington.

“The Summit is an excellent value-add opportunity located in one of the most sought-after submarkets on the Eastside,” said Philip Assouad, IPA senior managing director. “Major tech employers are expanding nearby, creating strong renter demographics and opportunities for future revenue growth.” Assouad, Giovanni Napoli, Ryan Dinius, and Sidney Warsinske of IPA represented the seller, Coast Equity Partners, and procured the buyer.

Constructed in 1981 on just under four acres, The Summit is minutes from Redmond’s downtown, Redmond Town Center, a mixed-use development and shopping center, and Marymoor Park. Highway 520 and Interstate 405 are within minutes and provide access to Microsoft, Amazon, Google, Facebook, and DigiPen.



Institutional Property Advisors brokers suburban Seattle multifamily sale

Summit Apartments
Institutional Property Advisors announced the sale of The Summit Apartments, a 96-unit multifamily asset in Redmond, Washington.

Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced today the sale of The Summit Apartments, a 96-unit multifamily asset in Redmond, Washington.

“The Summit is an excellent value-add opportunity located in one of the most sought-after submarkets on the Eastside,” said Philip Assouad, IPA senior managing director. “Major tech employers are expanding nearby, creating strong renter demographics and opportunities for future revenue growth.” Assouad, Giovanni Napoli, Ryan Dinius, and Sidney Warsinske of IPA represented the seller, Coast Equity Partners, and procured the buyer.

Constructed in 1981 on just under four acres, The Summit is minutes from Redmond’s downtown, Redmond Town Center, a mixed-use development and shopping center, and Marymoor Park. Highway 520 and Interstate 405 are within minutes and provide access to Microsoft, Amazon, Google, Facebook, and DigiPen.