Marcus & Millichap Inc.'s Institutional Property Advisors $(IPA)$ has facilitated the sale of a luxury multifamily asset, Zaterra, in Chandler, Arizona, for $137.5 million, equating to $350,765 per unit. This 392-unit property, completed in 2023, offers a low-density, garden-style living environment with condominium-style features, including larger than average unit sizes and garage access. Located near key areas such as Downtown Chandler and the Price Corridor, Zaterra provides convenient access to major employers and amenities. The sale was managed by IPA executive managing directors Steve Gebing and Cliff David, representing sellers PB Bell and PCCP, LLC, while also procuring the buyer.
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