Institutional Property Advisors Brokers Southeast Phoenix Multifamily Asset Sale
May 28, 2026
GILBERT, Ariz., May 28, 2026 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) dedicated to serving the company’s institutional clients, announced today the sale of Alta Rise, a four-story, 278-unit multifamily property in Gilbert, Arizona.
“One of only three mid-rise assets in North Gilbert, Alta Rise gives the buyer an opportunity to capture outsized long-term rental demand in a premier location,” said Steve Gebing, IPA executive managing director investments. “Positioned at the intersection of Elliot and McQueen Roads, Alta Rise leverages its impressive drive-by visibility to more than 28,900 vehicles per day to achieve consistent renter awareness and perpetual market visibility.” Gebing and Cliff David, IPA executive managing director investments, represented the seller, Wood Partners, and procured the buyer.
The property is less than a five-minute drive from Downtown Gilbert. The Superstition Freeway/U.S. Route 60 and Arizona Route 87 give residents a short commute to Chandler, Mesa, and employers such as Arizona State University, Intel, Wells Fargo, Northrop Grumman, Banner Health, and Apple. The Rivulon mixed-use development and the SanTan Village open-air shopping, dining, and entertainment center are also within a short drive.
Completed in 2025, Alta Rise is a four-building property with a fourth-floor lounge and Skydeck with Southeast Valley views and a bodega. Additional community amenities include a speakeasy, a lawn with yard games and a firepit, a multipurpose field, pickleball courts, and a resort-inspired swimming pool and spa. Apartments have walk-in closets with built-in shelving, kitchens with white quartz countertops, soft close cabinetry, and French door refrigerators. The average unit size is 867 square feet.
“One of only three mid-rise assets in North Gilbert, Alta Rise gives the buyer an opportunity to capture outsized long-term rental demand in a premier location,” said Steve Gebing, IPA executive managing director investments. “Positioned at the intersection of Elliot and McQueen Roads, Alta Rise leverages its impressive drive-by visibility to more than 28,900 vehicles per day to achieve consistent renter awareness and perpetual market visibility.” Gebing and Cliff David, IPA executive managing director investments, represented the seller, Wood Partners, and procured the buyer.
The property is less than a five-minute drive from Downtown Gilbert. The Superstition Freeway/U.S. Route 60 and Arizona Route 87 give residents a short commute to Chandler, Mesa, and employers such as Arizona State University, Intel, Wells Fargo, Northrop Grumman, Banner Health, and Apple. The Rivulon mixed-use development and the SanTan Village open-air shopping, dining, and entertainment center are also within a short drive.
Completed in 2025, Alta Rise is a four-building property with a fourth-floor lounge and Skydeck with Southeast Valley views and a bodega. Additional community amenities include a speakeasy, a lawn with yard games and a firepit, a multipurpose field, pickleball courts, and a resort-inspired swimming pool and spa. Apartments have walk-in closets with built-in shelving, kitchens with white quartz countertops, soft close cabinetry, and French door refrigerators. The average unit size is 867 square feet.
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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.