Institutional Property Advisors, a division of Marcus & Millichap, announced the sale of Equestrian, a 288-unit multifamily property in Tucson, Arizona.
“Equestrian’s prime Northwest Tucson location is underscored by superior demographics,” said Clint Wadlund, IPA senior director. “Within a three-mile radius of the property, 67% of the workforce is white collar and the average household income is over $103,700, which is 29% higher than the Tucson average.”
“Strong macroeconomic fundamentals in the Tucson MSA, coupled with our team’s expertise in connecting sellers with well-suited investors, resulted in a seamless transaction that enabled the buyer to enhance their presence in the market,” said Hamid Panahi, IPA senior vice president. Wadlund, Panahi, and IPA’s Steve Gebing and Cliff David represented the seller, Bridge Investment Group and procured the buyer, Investors Capital Group.
Built in 2008, the property’s stylish unit interiors feature fully equipped kitchens, granite countertops, in-unit washers and dryers, nine-foot ceilings, large walk-in closets, and private patios or balconies. Refreshed community amenities include an expansive leasing office, a business center, resort-style swimming pool, clubhouse, fitness center, covered parking, and 70 private, detached garages.
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. (
