PHOENIX—In this edition of Deal-Tracker, Cushman & Wakefield of Arizona, Inc. completes the nearly $5 million sale of the Glendale Shadows Apartments, 5902 W. Royal Palm Rd. The apartment building was constructed in 1975 and contains 138 units totaling 95,765 square feet. The property, which includes nine buildings, currently boasts 93% occupancy.
Terra Vista Investments USA of Vancouver purchased the property from the Monterey Group of Phoenix.
“The buyer plans to reposition the property and take advantage of the location and excellent visibility on 59th Avenue,” says Brett Polachek, senior director in the multifamily group with Cushman & Wakefield.
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