Institutional Property Advisors (IPA), a division of Marcus & Millichap, dedicated to serving the company’s institutional clients, announced sale of The Vintage, a 204-unit multifamily property in Tucson, Arizona. Community amenities include a newly renovated swimming pool and spa, laundry facility, package lockers, and a 24-hour fitness center.
“The Vintage is located in the Tucson metro’s East submarket with proximity to numerous employment generators and recreational attractions,” said Clint Wadlund, IPA managing director investments. “Previous ownership enhanced the community’s common areas and established a renovation program positioned for continuation under new ownership,” said Hamid Panahi, IPA senior managing director investments. Wadlund, Panahi, and IPA’s Steve Gebing and Cliff David represented the seller and procured the buyer.
The property is located along Speedway Boulevard, a major east-west corridor providing residents with direct access to the University of Arizona to the west and Saguaro National Park to the east. Additional recreational destinations such as The Loop, Sabino Canyon, and Tucson Botanical Gardens are nearby. The Williams Center and the Park Place Mall are within proximity.
Marcus & Millichap, Inc. (NYSE: MMI) is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. 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 our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion.
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.
