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.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

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