Institutional Property Advisors Closes $80 Million Multifamily Asset Sale in Gilbert, Arizona
The asset traded for $80 million, which equates to $322,581 per unit.
- The asset traded for $80 million, which equates to $322,581 per unit.
- “Averaging 30 net leases per month after opening in January 2023, Alta Cooley Station achieved one of the strongest multifamily lease-ups in Gilbert’s history,” said Steve Gebing, IPA executive managing director.
- “With average and median household incomes of $130,000 and $101,500 respectively, Gilbert has one of the strongest demographic profiles in Arizona.
- Alta Cooley Station is a four-story asset with a swimming pool and spa, outdoor entertainment space, open-concept leasing office/clubhouse, micro-offices, private conference room, and workspaces.