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Bridge Investment Picks Up Glendale Rental Community
Monte Vista, a 208-unit multifamily property in Glendale, has sold for $25.5 million. According to Yardi Matrix information, Bridge Investment Group acquired the asset and took out a 3-year loan from Truist Bank. The community is now rebranded as Butler Ridge Apartments.
Institutional Property Advisors Cliff David and Steve Gebing, along with Marcus & Millichap Senior Managing Director Darrell Moffitt, brokered the deal.
The property is at 6767 W. Butler Drive, 2 miles from the city center. Downtown Phoenix is within 12 miles, while Phoenix Sky Harbor International Airport is 16 miles southeast.
Completed in 1985, the garden-style community encompasses 18 two- and three-story buildings spread across roughly 8 acres. The unit mix consists of one- and two-bedroom floorplans ranging from 687 to 887 square feet. Apartments also have private balconies or patios and walk-in closets.
Common-area amenities include a clubhouse, playground, swimming pool and spa with sundeck, as well as two laundry facilities.
- ◦Sale/Acquisition
