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IPA Brokers $35.2M Sale of Saratoga Apartments in Mesa, Arizona

MESA, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale Saratoga Apartments, a multifamily property located on University Drive in Mesa. Tides Equities acquired the property from an undisclosed seller for $35.2 million, or $122,990 per unit.

Built in 1978 on 13 acres, the asset features 286 units, four swimming pools, a basketball court and tennis courts.

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

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

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