Institutional Property Advisors Brokers $53.4M Sale, $47M Financing of Tucson Multifamily Asset
Marcus & Millichap, Inc. (MMI)
Last marcus & millichap, inc. earnings: 2/20 04:04 pm
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Source: Business Wire
TUCSON, Ariz.--(BUSINESS WIRE)--Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE:MMI) dedicated to serving the company’s institutional clients, announced today the sale and financing of The Retreat at Speedway, a 304-unit apartment asset in Tucson, Arizona.“Benefiting from a compelling 27% rent delta to its like-kind competition, the property offers a blank canvas value-add opportunity supported by $1.4 million in recent capital improvements,” said Steve Gebing, executive managing director, IPA. “The Retreat at Speedway belongs to a scarce early-2000s vintage cohort, with assets constructed between 2000 and 2009 representing approximately 5% of the Tucson MSA’s multifamily inventory,” said Hamid Panahi, senior managing director investments, IPA. Gebing, Panahi, and IPA’s Clint Wadlund and Cliff David represented the seller, Weidner Apartment Homes, and procured the buyer, Bascom Arizona Ventures, an affiliate of The Bascom Group. The property traded at
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MMI
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- 1/7/26 - Form 4
- 12/12/25 - Form 4
- 12/12/25 - Form 4
- MMI's page on the SEC website