IPA Brokers $21.3M Sale of Dolce Villagio Lofts in Tempe, Arizona

by Amy Works

TEMPE, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Dolce Villagio Lofts, a multifamily townhome community in Tempe, for $21.3 million.

IPA’s Steve Gebing and Cliff David represented the seller, Scottsdale-based Bascom Arizona Ventures LLC, and procured the undisclosed buyer.

Built in 2007, Dolce Villagio Lofts comprises seven residential buildings and 37 two- and three-bedroom townhome units with two-car garages and an average unit size of 1,437 square feet. Community amenities include a swimming pool and spa.

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