Glendale, Arizona Apartments Fetch $326,923 Per Unit
Greenlight Communities has completed the sale of Cabana 99th, a multifamily community in Glendale. B&R Capital Partners and American Landmark acquired the asset for $93.5 million, or $326,923 per unit. Steve Gebing and Cliff David of Institutional Property Advisors, represented the seller and procured the buyer in the deal. Gebing touted the deal, “Cabana 99th is Glendale’s only purpose-built attainable multifamily asset and its smart-sized apartment homes and well-appointed community spaces present budget-conscious, middle-income professionals with a much-need housing option.”
Completed in 2022, Cabana 99th features 286 apartments with carpet in the bedrooms and keyless entry systems. Floor plans have built-in workstation desks and full-size, front-loading washers and dryers. Community amenities include a clubhouse, fitness center, outdoor fitness circuits and a resort-style swimming pool. The controlled-access, gated-entry property also offers two laundry rooms, co-working space, a parcel delivery room and covered parking.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
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