PHOENIX—Institutional Property Advisors, a division of Marcus & Millichap, closed the sale of Crestwood, a 276-apartment multifamily community in Mesa. The terms of the sale were not released.
IPA senior director Steve Gebing and Marcus & Millichap vice president investments Cliff David advised the seller, Lynd. The buyer is Aspen Square Management.
Gebing tells GlobeSt.com, “Crestwood marks the third acquisition in Mesa for the buyer in recent months. The driving force behind their interest in this asset was the continued public and private investment into the Fiesta District, sparking new life into the region and identifying it as a unique, economically vibrant, and active destination.
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