Wood Partners Sells Gilbert Apartments for $81.6M

Wood Partners sold the Alta Rise apartments in Gilbert to DWS Group for $81.6 million. DWS paid $293,525.18 per unit. The Phoenix Business Journal reports Wood developed the property, which was delivered in 2025.

IPA’s Steve Gebing and Cliff David represented Wood Partners and procured the buyer for the transaction.

Built on 9.44 acres at 80 N. McQueen Road, the four-story property features a lounge and sky deck on the fourth floor, offering views of the southwest Valley. Additional amenities include a bodega, speakeasy, pickleball court, pool and spa, a multipurpose field, a lawn with yard games and a fire pit.  The average unit size is 867 square feet.

This transaction follows Wood Partners’ $71.3 million sale of Alta Biltmore to Millburn and Co. in October 2025.

Millburn and a group of investors paid $95.25 million for Ascend at Longbow Highpoint in Mesa. Selling that 339-unit property was D.R. Horton Inc., which built the community on 13.36 acres in 2024 at 2925 N. Recker Road.