GLENDALE, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale and financing of Country Gables, a multifamily property in Glendale. Western Wealth Capital sold the asset to Dalan Management for $28 million, or $201,439 per unit.
Completed in 1984, Country Gables features 139 one- and two-bedroom/two-bath apartments with walk-in closets, stackable or full-size washer/dryers, private patios or balconies with designated storage space and vaulted ceilings in second-story units. Community amenities include a swimming pool, laundry facility, covered parking and controlled access gated entry.
Cliff David and Steve Gebing of IPA represented the seller and procured the buyer in the transaction. Brian Eisendrath, Cameron Chalfant, Jake Vitta and Tyler Johnson of IPA Capital Markets’ team arranged acquisition financing on behalf of the buyer. The direct lender was not disclosed.