IPA Brokers $18.2M Sale of District Flats Off Dobson Apartments in Mesa


District Flats Off Dobson in Mesa, Ariz., features 112 apartments, a swimming pool, tennis court and pet play area.

MESA, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of District Flats Off Dobson, a multifamily property located in Mesa. Rise48 Equity sold the property to a joint venture between The Souferian Group and ZMR Capital for $18.2 million, or $162,500 per unit.

Built in 1975 on three acres, District Flats Off Dobson features 112 apartments, a swimming pool, barbecue grills, laundry facility, tennis court and pet play area.

Cliff David and Steve Gebing of IPA represented the seller and procured the buyer in the transaction.

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