Institutional Property Advisors Closes Class A Multifamily Asset Sale in Suburban Phoenix
August 10, 2026
PEORIA, Ariz., Aug. 10, 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 Parc Roundtree Ranch, a 275-unit multifamily property in Peoria, Arizona.
“Located in the West Valley’s most affluent municipality and emerging high-tech employment corridor, Parc Roundtree Ranch is distinguished by its low-density, amenity-rich site plan and open-concept, larger-than-average residences,” said Steve Gebing, IPA executive managing director investments. Gebing, and Cliff David, IPA executive managing director investments, represented the seller and procured the buyer.
The property is between Loop 101 and U.S. Route 60/Grand Avenue, a short drive from Downtown Peoria. The Southwest Valley Industrial and Loop 303 corridors, home to employers such as Amazon, Microsoft, Sub-Zero, PepsiCo, and Williams-Sonoma are within commuting distance. Shopping, dining, and entertainment are a 10-minute drive away at the Westgate Entertainment District in Glendale.
Completed in 2021 on over 10 acres, Parc Roundtree Ranch is a gated, garden-style property with a resort-style swimming pool and spa, fitness center, pet spa, and outdoor grilling areas. Apartments have nine-foot ceilings, private patios or balconies with exterior storage, walk-in closets, and full-size washers and dryers. The average unit size is 929 square feet.
“Located in the West Valley’s most affluent municipality and emerging high-tech employment corridor, Parc Roundtree Ranch is distinguished by its low-density, amenity-rich site plan and open-concept, larger-than-average residences,” said Steve Gebing, IPA executive managing director investments. Gebing, and Cliff David, IPA executive managing director investments, represented the seller and procured the buyer.
The property is between Loop 101 and U.S. Route 60/Grand Avenue, a short drive from Downtown Peoria. The Southwest Valley Industrial and Loop 303 corridors, home to employers such as Amazon, Microsoft, Sub-Zero, PepsiCo, and Williams-Sonoma are within commuting distance. Shopping, dining, and entertainment are a 10-minute drive away at the Westgate Entertainment District in Glendale.
Completed in 2021 on over 10 acres, Parc Roundtree Ranch is a gated, garden-style property with a resort-style swimming pool and spa, fitness center, pet spa, and outdoor grilling areas. Apartments have nine-foot ceilings, private patios or balconies with exterior storage, walk-in closets, and full-size washers and dryers. The average unit size is 929 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.