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IPA Negotiates $49.5M Sale of Deer Creek Village Multifamily Asset in North Phoenix

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Located in North Phoenix, Deer Creek Village features 308 apartments, three swimming pools, two spas and a playground.

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.

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