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TEMPE, ARIZ. — Institutional Property Advisors (IPA) has arranged the $26.5 million sale of Eden Apartments, a 112-unit community in Tempe. IPA Executive Managing Directors Cliff David and Steve Gebing represented the seller, Living Well Homes, and procured the buyer, Rise48 Equity. IPA Capital Markets’ Brian Eisendrath, Cameron Chalfant and their team arranged acquisition financing.
Eden Apartments comprises eight buildings that rise two stories and are situated on five acres. Amenities include a pool, fitness center, a laundry facility, picnic area and courtyard. Individual units have a balcony or private patio.