GLENDALE, ARIZ. — Greenlight Communities has completed the sale of Cabana 99th, a multifamily community in Glendale. B&R Capital Partners and American Landmark acquired the asset for $93.5 million, or $326,923 per unit.
Completed in 2022, Cabana 99th features 286 apartments with nine-foot ceilings, stainless steel appliance packages, wood-style vinyl plank flooring with carpet in the bedrooms and keyless entry systems. Select floor plans have built-in workstation desks and full-size, front-loading washers and dryers. Community amenities include a clubhouse, fitness center, outdoor fitness circuits and a resort-style swimming pool. The controlled-access, gated-entry property also offers two laundry rooms, co-working space, a parcel delivery room and covered parking.
Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.