PHOENIX—Rance King Properties Inc. of Long Beach purchased Northern Greens, a 420-unit Class B apartment building in Glendale for $21.2 million, or $50,476 per unit from GA Northern Greens, LLC of Des Moines. The property is located at 8150 N. 61st Ave.
Colliers International in Greater Phoenix completed the sale. Bill Hahn, Jeffrey Sherman and Trevor Koskovich, senior vice presidents of Colliers HSK multifamily, served as the brokers for the buyers and the sellers.
“The expanding local economy is fueling tenant demand for all types of commercial real estate in the Greater Phoenix market, resulting in declining vacancy rates and strengthening market sentiment,” Koskovich says.
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