IPA Brokers $41.9M Sale of 198-Unit Multifamily Asset in Arizona’s Southeast Valley

MESA, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of The Premiere at Dana Park, an apartment community located in Mesa. PCS Development sold the property to an undisclosed buyer for $41.9 million, or $211,869 per unit.

Completed in 2018, The Premiere at Dana Park features 198 apartment units within walking distance of Village Square at Dana Park, a 365,000-square-foot urban lifestyle center.

Steve Gebing and Cliff David of IPA represented the seller in the deal.