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YUMA, ARIZ. — Institutional Property Advisors (IPA) has arranged the sale of Regency Square, an apartment property in Yuma. Sundance Bay acquired the asset from a private partnership for $41.5 million, or $136,513 per unit.
Built in 1986, Regency Square features 304 studio, one- and two-bedroom apartments spread across 17 two-story residential buildings. Community amenities include assigned covered parking, two swimming pools, a leasing office and clubhouse, basketball court, children’s playground, pet park and two laundry facilities.
Cliff David and Steve Gebing of IPA, a division of Marcush & Millichap, represented the seller and procured the buyer in the deal.