Institutional Property Advisors Closes Sale and Arranges Financing for Scottsdale Multifamily Asset
July 09, 2025
SCOTTSDALE, Ariz., July 9, 2025 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) dedicated to serving the company’s institutional clients, announced today the sale and financing of Avana Desert View, a 412-unit multifamily property in Scottsdale, Arizona.
“Avana Desert View’s North Scottsdale location places it at the center of one of the Phoenix metro’s institutionally preferred submarkets,” said Steve Gebing, IPA executive managing director. “Renting at the community is 78% less expensive than owning a home in Scottsdale.” Gebing and IPA executive managing director Cliff David represented the seller, Greystar, and procured the buyer, Knightvest. Brian Eisendrath, Cameron Chalfant, and Tyler Johnson of IPA Capital Markets arranged five years of interest-only acquisition financing. “We are pleased to have assisted the sponsor with the closing of Avana Desert View, which is a phenomenal addition to their portfolio within the Phoenix MSA,” said Johnson. “The superior terms provided by the lender exemplify how the agencies are providing aggressive capital for strong, repeat sponsors, demonstrating their confidence in well-positioned assets regardless of specific mission-driven criteria.”
Located just off Bell Road, the property is easily accessible from Arizona State Route 51/Piestewa Freeway and the Loop 101. Camelback Mountain and Piestewa Peak are nearby, and shopping, dining and entertainment are within proximity at Kierland Commons, Scottsdale Quarter, PV Phoenix, and Desert Ridge Marketplace. Scottsdale’s major employers include HonorHealth, The Vanguard Group, CVS, and General Dynamics.
Avana Desert View is a two- and three-story property built in 1996 on 18.5 acres. Community amenities include two swimming pools and spas, a playground, and a sand volleyball court. Apartments have washers and dryers, stainless steel appliances, and walk-in closets.
“Avana Desert View’s North Scottsdale location places it at the center of one of the Phoenix metro’s institutionally preferred submarkets,” said Steve Gebing, IPA executive managing director. “Renting at the community is 78% less expensive than owning a home in Scottsdale.” Gebing and IPA executive managing director Cliff David represented the seller, Greystar, and procured the buyer, Knightvest. Brian Eisendrath, Cameron Chalfant, and Tyler Johnson of IPA Capital Markets arranged five years of interest-only acquisition financing. “We are pleased to have assisted the sponsor with the closing of Avana Desert View, which is a phenomenal addition to their portfolio within the Phoenix MSA,” said Johnson. “The superior terms provided by the lender exemplify how the agencies are providing aggressive capital for strong, repeat sponsors, demonstrating their confidence in well-positioned assets regardless of specific mission-driven criteria.”
Located just off Bell Road, the property is easily accessible from Arizona State Route 51/Piestewa Freeway and the Loop 101. Camelback Mountain and Piestewa Peak are nearby, and shopping, dining and entertainment are within proximity at Kierland Commons, Scottsdale Quarter, PV Phoenix, and Desert Ridge Marketplace. Scottsdale’s major employers include HonorHealth, The Vanguard Group, CVS, and General Dynamics.
Avana Desert View is a two- and three-story property built in 1996 on 18.5 acres. Community amenities include two swimming pools and spas, a playground, and a sand volleyball court. Apartments have washers and dryers, stainless steel appliances, and walk-in closets.
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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.