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Explain this story: $58 Million Multifamily Asset Sale Closed by Institutional Property Advisors in North Phoenix
Institutional Property Advisors (IPA) has announced the sale of Ascend at Black Canyon, a 260-unit multifamily property in Phoenix, Arizona, for $58.7 million. The property is located in North Phoenix, an area expected to generate numerous high-earning jobs from advanced chip production companies. The deal highlights strong demand for multifamily assets in strategically located, high-growth markets.
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Institutional Property Advisors (IPA) has announced the sale of Ascend at Black Canyon, a 260-unit multifamily property in Phoenix, Arizona, for $58.7 million. The property is located in North Phoenix, an area expected to generate numerous high-earning jobs from advanced chip production companies. The deal highlights strong demand for multifamily assets in strategically located, high-growth markets.
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