IPA Brokers $78.5M Sale of Parc Midtown Apartment Complex in Phoenix

by Amy Works

PHOENIX — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Parc Midtown, a multifamily property located in Phoenix. Evergreen sold the asset to FSC Realty for $78.5 million, or $256,536 per unit.

Situated at the intersection of Central Avenue and Indian School Road, Parc Midtown features 306 apartments with proximity to Indian School/Central Avenue Valley Metro Rail station and Steele Indian School Park.

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

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