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APACHE JUNCTION, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Hampton Meridian, a build-to-rent community in Apache Junction, 35 miles east of Phoenix. The asset traded hands for $56.5 million.
Steve Gebing and Cliff David of IPA represented the seller and procured the buyer in the deal. Neither party’s identity was disclosed.
Built in 2023, Hampton Meridian consists of 195 residences across 16 acres. The average unit size is 1,009 square feet. Residents have access to amenities such as a pool, spa, fitness center and paved walking trails that lead through courtyards with a kitchen, barbecue grilling stations, fireside lounge and cabanas.