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IPA’s Gebing and David Close Multifamily Sale in Phoenix’s Mountain Park Ranch
Institutional Property Advisors (IPA), a division of Marcus & Millichap, closed the sale of Mountainside, a 288-unit multifamily asset located within Mountain Park Ranch, a master-planned community at the center of Ahwatukee Foothills Village in Phoenix.
The seller, KB Investment and Development Company, was represented by IPA executive managing directors Cliff David and Steve Gebing. David and Gebing—recently recognized among Connect CRE’s Top Broker Award winners–also procured the buyer, TA Realty.
“Mountainside’s premier location attracted immediate interest from buyers,” said David. “Only one apartment project of 100 units or more has been built in the submarket in the past 20 years, with no new construction in the pipeline and no path to future development due to significant geographic barriers and built-out nature of the submarket.”
Built in 1996 on 14.5 acres, the low-density property has under 20 units per acre within 54 residential buildings.
- ◦Sale/Acquisition

