November 5, 2024 12:31 pm
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2 apartment deals worth nearly $24M

Tuscany Pointe
Tuscany Pointe

AZRE Magazine

Marcus & Millichap announced the sale of Tuscany Pointe Apartments, a 236-unit multifamily community in Phoenix. The $10.1M sales price equates to $42,797 per unit.

Cliff David, a Marcus & Millichap vice president investments, and Steve Gebing, a senior director with Institutional Property Advisors, a Marcus & Millichap company, both located in the firm’s Phoenix office, represented the seller, Howe Group LLC. David and Gebing also advised the buyer, The Lodge Complex Tulsa LLC.

Continued:

Meanwhile, Luke Donahue, senior director of NorthMarq Capital’s Phoenix office funded the $13,744,000 acquisition loan of Waterstone Apartments, a 269 unit multifamily property located in Mesa, AZ. The transaction was funded by NorthMarq’s through their FHLMC seller/servicer platform.

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