PHOENIX — Steve Gebing and Cliff David of Institutional Property Advisors (IPA) have arranged the $61.5 million sale of Level at Sixteenth in Phoenix. IPA represented the seller, Sares Regis Multifamily Investment Management, and procured the buyer. IPA didn’t disclose the buyer, but TA Realty is listed as the owner on the property website. Sares Regis Multifamily bought the asset from Abacus Capital Group in 2021. Level at Sixteenth opened in 2010 and was a redevelopment of a former retail center. The 240-unit property sits on four acres at the corner of 16th Street and Campbell Avenue and includes such amenities as a resort-style pool and hot tub, a two-story fitness center and a parking garage. Apartments feature stainless-steel appliances and walk-in closets.
Level at Sixteenth, located in the Biltmore neighborhood of Phoenix, was sold to TA Realty for $61.5 million. IPA arranged the sale.
Sares Regis Multifamily Sells Phoenix Asset for $61.5 Million
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