IPA Brokers $35.2M Sale of Saratoga Apartments in Mesa, Arizona
April 5, 2021
MESA, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale Saratoga Apartments, a multifamily property located on University Drive in Mesa. Tides Equities acquired the property from an undisclosed seller for $35.2 million, or $122,990 per unit.
Built in 1978 on 13 acres, the asset features 286 units, four swimming pools, a basketball court and tennis courts.
Steve Gebing and Cliff David of IPA represented the seller and procured the buyer in the deal.