PHOENIX—Institutional Property Advisors, a division of Marcus & Millichap, has closed the sale of Cortona at Dana Park, a 222-unit multifamily community in Mesa. The $22.1 million sales price equates to $99,550 per unit.
IPA senior director Steve Gebing and Marcus & Millichap vice president investments Cliff David advised the seller, Virtú Investments. The buyer is Green Leaf Capital Partners.
Gebing tells GlobeSt.com, “With its superior location and current positioning within the competitive landscape of the submarket, the buyer was excited about Cortona's potential to be further improved with specific enhancements to the common area amenities.
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