Canadian investor Emma Capital has sold the Ridgepoint Apartments in Glendale, Arizona, for $19.8 million to a local Arizona investor. The sales price equates to $120,427 per unit or $181.07 per square foot.

Ridgepoint is a 164-unit apartment community in the South Glendale submarket with a mix of one- and two-bedroom units. The previous ownership renovated 42% of the units, and partially renovated 39% of the units.

ABI Multifamily's Alon Shnitzer, John Kobierowski, Rue Bax, Eddie Chang and Doug Lazovick represented both parties in the deal.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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