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Phoenix & Southwest  + Phoenix  + Apartments  | 
One of the top five largest multifamily sales is the accolade apartments in Phoenix, AZ

Accolade is One of Arizona’s Top Five Largest Multifamily Sales

Accolade, a 548-unit multifamily asset in Phoenix, recently sold for $155 million or $282,847 per unit. The transaction is one of the top five largest multifamily sales on record in Arizona by total purchase price.

Institutional Property Advisors’ (IPA) Steve Gebing and Cliff David represented the seller, Weidner Apartment Homes, and procured the buyer, Knightvest Capital.

“Accolade’s strategic North Phoenix location offers a diverse employment base in a high-barrier-to-entry submarket,” said Gebing. “With only four multifamily properties constructed since 2010 within a three-mile radius, Accolade is primed for a common area and apartment interior renovation program.”

Located near the intersection of Bell Road and Central Avenue, Accolade was constructed in 1984 on 28 acres. Accolade’s community amenities include four swimming pools and two spas. Units have full-size washers and dryers, walk-in closets, and private patios or balconies. The average unit size is 856 square feet.

IPA is a division of Marcus & Millichap.

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Inside The Story

Steve Gebing

About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

  • ◦Sale/Acquisition