Bridge Investment Group Acquires $202M Portfolio

Portfolio property. Image courtesy of Institutional Property Advisors Bridge Investment Group has purchased a three-multifamily…

Portfolio property. Image courtesy of Institutional Property Advisors

Bridge Investment Group has purchased a three-multifamily property portfolio in the Southwest. The purchase price was $201.8 million. Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller, JB Partners, and procured the buyer. The portfolio’s properties are The Villages at Metro Center, a 296-unit rental property in Phoenix; Crystal Creek, a 273-unit multifamily development in Phoenix and Indigo Park, a 216-unit apartment community in Albuquerque, N.M.


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The Villages at Metro Center is situated on 11.5 acres proximate to the Deer Valley and I-17 employment corridors. Built in 1979, it features studio apartments as well as one-, two- and three-bedroom layouts averaging 773 square feet in size. Units include private balconies or patios, semi-private entries, central air conditioning and high-speed Internet access. A quartet of laundry facilities tops the common-area amenity list.

Constructed in 1985 on 8 acres, Crystal Creek is also situated near Deer Valley and I-17 job hubs, and not far from the Bell Road Retail Corridor. The apartment community features studio and one- and two-bedroom apartments averaging 708 square feet in size. The apartments offer washer-dryers, microwave ovens, high-speed Internet access and, in select units, vaulted ceilings and fireplaces. A pair of swimming pools highlights the roster of common-area amenities.

New Mexico

Accessible from Interstate 25, Indigo Park is located 8 miles from downtown Albuquerque. The community was constructed in 1974 on 7.5 acres, and was previously called Pinnacle View and Cimarron Village. The community features one- through three-bedroom apartments that average 923 square feet in size. The residences provide private balconies or patios, semi-private entries, individual air conditioning and high-speed Internet access. A fitness center is among prominent Indigo Park amenities.

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Steve Gebing and Cliff David, executive managing directors, and Ryan Sarbinoff, first vice president and regional manager, were the IPA executives spearheading the deals.