IPA Handles $20M Sale of Phoenix MF

Institutional Property Advisors (IPA), a division of Marcus & Millichap, handled the sale of Verona Court, a 141-unit apartment complex in Phoenix. The property at 17646 N. Cave Creek Rd. sold for $20 million, which equates to $141,844 per unit.

IPA’s Cliff David and Steve Gebing represented the seller, a partnership between NY-based Dalan Management and VM Management, and procured the unnamed private buyer.

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