November 10, 2020
Dallas-based S2 Capital acquired Eagle Crest Apartments in Glendale from an entity affiliated with EPI Property Management for $55 million. The 408-unit community was built in 1985 on nearly 16 acres at 6451 W. Bell Rd.
The property includes 20 two-story buildings totaling 269,557 square feet with a unit mix of studio to two-bedroom layouts that include walk-in closets and full kitchens. The sprawling park-like community includes a 3,000-square-foot clubhouse, four on-site laundry facilities, a fitness center, a kid’s park and two pools.
Benefit Street Partners provided $47,220,000 in new debt for the deal. IPA’s Cliff David, Steve Gebing and Marty Cohan handled the sale transaction.
For comments, questions or concerns, please contact Dennis Kaiser