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November 10, 2020 Comments Off on Glendale Apartments Trade for $55M Views: 505 Phoenix, Phoenix & Southwest News

Glendale Apartments Trade for $55M

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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.

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