Home News ABI sells The Parker Apartments in Glendale for $45M

ABI sells The Parker Apartments in Glendale for $45M

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BI Multifamily, a leading condominium brokerage and advisory services company in the western United States, sells $ 45,000,000 / $ 296,053 / SF per unit of The Parker Apartments, a 152-unit condominium community on 5150 West Eugie Avenue in Glendale, Arizona. Was announced. 85304. ABI Multifamily Alon Shnitzer, and Rue Bax. ABI Multifamily Phoenix-based Institutional Apartment Group – Alon Shnitzer, Rue Bax, Eddie Chang, and Doug Lazovick facilitated the transaction.

The purchaser is ClearCapital LLC, based in California.

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Parker Apartments is a 152 unit garden style apartment community in Glendale, Arizona. Residents have direct access to all areas of Phoenix Valley via the nearby Black Canyon Freeway (Interstate 17), Agua Fria Freeway (Loop 101), and Grand Avenue (Highway 60). In addition, there are numerous dining and entertainment options in the immediate vicinity of the property, including the Gila River Arena, State Farm Stadium, and the Westgate Sports and Entertainment District, which includes the multipurpose development of the 225-acre Westgate City Center. With over 8 million square feet of offices, luxury condominiums, hotels, entertainment, restaurants and shopping. These aspects make Parker a highly desirable community for the inhabitants.

Built in 1984, Parker Apartments houses 152 units in nine two-story buildings on 5.07 acres of land. The rental building is made of wood and flat roof plaster. The unit mix consists of 96 1 bedroom / 1 bathroom units and 56 2 bedroom / 2 bathroom units. The apartments are equipped with a separate electricity meter, a separate water heater and a separate roof-mounted HVAC. Interior amenities include air conditioner / heating, ceiling fan, large closet, vertical blinds, patio / balcony, high speed internet access, dishwasher, garbage disposal, range / oven, refrigerator and kitchen with microwave. The community also offers residents a fitness center, pool and spa, covered / open parking, Amazon Hub Package Locker, and large rental offices.

Key employers near the property include Medical Technology Corridors (including Banner Thunderbird Medical Center, Arizona Christian University, St. Joseph’s Westgate Medical Center), major manufacturers such as Honeywell Aerospace and Connea, Arrowhead Town. Sports and entertainment districts that include retail centers such as centers and Westgate, and educational institutions such as Arizona State University West Campus, Arizona Christian University, and Glendale Community College Network.

ABI Multi Family (https://www.abimultifamily.com/) Is an intermediary and advisory services company focused solely on apartment investment transactions. ABI Multifamily’s experienced advisors with offices in Phoenix, Tucson and San Diego have completed billions of dollars in sales and thousands of individual housing transactions. ABI Multifamily embraces a global approach with local real estate expertise to successfully complete any multifamily transaction, regardless of size or complexity.

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