PHOENIX—Marcus & Millichap announces thesale of Aura at Midtown, a 96-unit apartment complex in Phoenix.The $8.69 million sales price equates to $90,500 per unit.

Steve Gebing, a senior director ofInstitutional Property Advisors, a division ofMarcus & Millichap, along with Marcus & Millichap vicepresident investments Cliff David, first vicepresident investments Richard Butler, seniorassociate Brian Tranetzki and associateTrevor Hardy, all in the firm's Phoenix office,advised the seller, Pathfinder Partners andAvenue North. The buyer is Capital RealEstate.

“Developed by Staman & Kahnweiler in 1959 and 1962, Aura atMidtown was recognized as one of the '5 Coolest Apartment Complexesin Phoenix' by the Phoenix New Times in 2014,”says Gebing. “The previous owner initiated a successfulrepositioning and rebranding of the property that the new owner cancontinue.”

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