ABI Multifamily Negotiates $42M Sale of Solano Pointe Apartments in Glendale, Arizona
GLENDALE, ARIZ. — ABI Multifamily has arranged the sale of Solano Pointe Apartments, a multifamily community located in Glendale. Tower 16 Capital Partners acquired the property from an undisclosed, Arizona-based seller for $42 million, or $152,174 per unit.
Built in 1983, Solano Pointe features 276 apartments in 18 rental buildings on a 10.1-acre site. The unit mix consists of 68 studio units, 168 one-bedroom/one-bath units, 16 two-bedroom/one-bath units and 24 two-bedroom/two-bath units.
Individual units feature air conditioning, private patio/balcony in select units, large and/or walk-in closets and all-electric kitchens. Community amenities include three swimming pools, a dedicated leasing office, three laundry facilities, new poolside barbecue grill areas and a children’s playground area.
Alon Shnitzer, Rue Bax, Eddie Chang and Doug Lazovick of ABI Multifamily’s Phoenix-based Institutional Apartment Group represented the buyer and seller in the deal.