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$7M Hooks 172-Unit Glendale Complex

GLENDALE, AZ-A Tucson buyer decides to expand its operating area with the $6.7-million purchase of the Bethany Park Apartments at 5830 N. 67th Ave., just two miles from the new stadiums.

By Lee Simmons | Updated on March 26, 2004

GLENDALE-A Phoenix-based non-profit community development corporation has turned over the title to the 172-unit Bethany Park Apartments for $6.7 million to Tucson-based RonCo Bethany LLC.

The seller of the six-acre asset was B. Park Apartments Inc.-Chicanos Por La Causa. “They had a lot of equity in the property,” Rich Butler of Marcus & Millichap tells GlobeSt.com. “I don’t think there wasn’t anything they didn’t touch in the last 10 years.”

Butler represented the seller and Marcus & Millichap’s Mike McClain represented the buyer. An acquisition loan of more than $5 million was arranged through La Jolla Bank.

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