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GLENDALE, ARIZ. — Baron Properties has completed the disposition of Arrowhead Ranch by Baron, a multifamily asset in Glendale. Decron Properties acquired the community for $101.5 million, or $396,484 per unit.
Built in 1996 on 16 acres, Arrowhead Ranch at Baron features 256 apartments with large windows, white Shaker-style cabinetry, breakfast bars, full-size washers/dryers and garden-style soaking tubs. Select units offer gas fireplaces and lake views. Community amenities include two resort-style swimming pools, spas with expansive sundecks and lake views.
Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in deal.