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IPA Negotiates $64M Sale of Delano Multifamily Community in Mesa, Arizona

Delano-Mesa-AZ

Delano in Mesa, Ariz., features 265 apartments, a swimming pool and fitness center.

MESA, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Delano, an apartment property located along Gilbert Road in Mesa. S2 Capital sold the asset to Western Wealth Capital for $64 million, or $241,509 per unit.

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

Built in 1980 on 20 acres, Delano features 265 apartments, a fitness center, swimming pool, dog park and an outdoor Wi-Fi lounge with landscaping, seating and bistro lighting. Units feature stackable washers/dryers, wood-style vinyl flooring and private patios.

Content Partners
‣ Bohler
‣ Lee & Associates
‣ NAI Global
‣ Walker & Dunlop

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