Institutional Property Advisors Brokers Southeast Phoenix Multifamily Asset Sale and Financing
May 28, 2024
CHANDLER, Ariz., May 28, 2024 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale and financing of The Plaza Taos, a 164-unit multifamily asset in Chandler, Arizona.
“The Plaza Taos’ premier Chandler location, accompanied by its architectural design, differentiated townhome floorplans, and over-weighted, direct-access garages are perfectly suited to meet the needs of the region’s affluent, white-collar workforce,” said Steve Gebing, IPA executive managing director. “The Southeast Valley’s job base is anchored by high-tech employers, regional healthcare networks, and Fortune 500 companies.” Gebing and IPA executive managing director Cliff David represented the seller, The Garrett Companies, and procured the buyer, Olympus Property. IPA Capital Markets specialists Brian Eisendrath, Cameron Chalfant and Jake Vitta secured the seven-year loan.
The property is located off Arizona State Route 87, one block from Loop 202, and a short drive from Downtown Chandler. Major employers in Chandler include Intel, Northrop Grumman, PayPal, and Banner Health. Shopping and dining options are close by along Alma School Road and Arizona Avenue.
Completed in 2023 on nine acres, The Plaza Taos is a gated community with a heated swimming pool and spa, an off-leash pet park, indoor dog spa, and outdoor kitchen with gas grills. The one-, two- and three-bedroom apartments have open concept floorplans, washers and dryers and oversized patios/balconies.
“The Plaza Taos’ premier Chandler location, accompanied by its architectural design, differentiated townhome floorplans, and over-weighted, direct-access garages are perfectly suited to meet the needs of the region’s affluent, white-collar workforce,” said Steve Gebing, IPA executive managing director. “The Southeast Valley’s job base is anchored by high-tech employers, regional healthcare networks, and Fortune 500 companies.” Gebing and IPA executive managing director Cliff David represented the seller, The Garrett Companies, and procured the buyer, Olympus Property. IPA Capital Markets specialists Brian Eisendrath, Cameron Chalfant and Jake Vitta secured the seven-year loan.
The property is located off Arizona State Route 87, one block from Loop 202, and a short drive from Downtown Chandler. Major employers in Chandler include Intel, Northrop Grumman, PayPal, and Banner Health. Shopping and dining options are close by along Alma School Road and Arizona Avenue.
Completed in 2023 on nine acres, The Plaza Taos is a gated community with a heated swimming pool and spa, an off-leash pet park, indoor dog spa, and outdoor kitchen with gas grills. The one-, two- and three-bedroom apartments have open concept floorplans, washers and dryers and oversized patios/balconies.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.