IPA Negotiates $49.5M Sale of Deer Creek Village Multifamily Asset in North Phoenix
PHOENIX — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Deer Creek Village, an apartment property located in North Phoenix. Triumph Properties Group acquired the community from a private family/operating partner for $49.5 million, or $160,714 per unit.
Built in the 1985 on more than 11 acres, the value-add property features 308 units with an average size of 818 square feet. Community amenities include a playground, three swimming pools and two spas.
Cliff Davis and Steve Gebing of IPA represented the seller and procured the buyer in the transaction.