Institutional Property Advisors, a division of Marcus & Millichap, announced the sale and financing of The Plaza Taos, a 164-unit multifamily asset in Chandler, Arizona.
“The Plaza Taos’ premier Chandler location, accompanied by its architectural design, differentiated townhome floorplans, and over-weighted, direct-access garages are perfectly suited to meet the needs of the region’s affluent, white-collar workforce,” said Steve Gebing, IPA executive managing director. “The Southeast Valley’s job base is anchored by high-tech employers, regional healthcare networks, and Fortune 500 companies.” Gebing and IPA executive managing director Cliff David represented the seller, The Garrett Companies, and procured the buyer, Olympus Property. IPA Capital Markets specialists Brian Eisendrath, Cameron Chalfant and Jake Vitta secured the seven-year loan.
Completed in 2023 on nine acres, The Plaza Taos is a gated community with a heated swimming pool and spa, an off-leash pet park, indoor dog spa, and outdoor kitchen with gas grills. The one-, two- and three-bedroom apartments have open concept floorplans, washers and dryers and oversized patios/balconies.
Institutional Property Advisors (IPA) is a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios.
Marcus & Millichap, Inc. (NYSE: MMI) is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion.
