Bridge Investment Group has recently acquired Glen 91, a multifamily asset in Glendale consisting of 296 units. The property was sold for $76.5 million, averaging just over $258,000 per unit. The seller and developer of this newly built project was HCW.
The sale was facilitated by an Institutional Property Advisors (IPA) sales team led by Steve Gebing and Cliff David who represented the seller and found the buyer for this property located at 8991 W Glendale Ave. According to Gebing from IPA, Glendale boasts the second-highest concentration of renter households in the West Valley region with projected steady growth in years to come.
Conveniently situated within walking distance from Glen 91 is Westgate Entertainment District which houses popular attractions such as State Farm Stadium, Desert Diamond Arena, and Tanger Outlets. Additionally,the area is home to major employers including Amazon,PepsiCo,FedEx,and REI while also featuring nearby open-air shopping centers like Gateway Pavilions,Banner Estrella Medical Center,and Gateway Crossing Shopping Center.
Glen 91 offers climate-controlled interior corridors,a resort-style swimming pool,a hammock garden,coveted parking spaces,and attached garages making it a highly desirable living option.Completed in2023,the average size of each unit measures at871 square feet,making it ideal for renters seeking spacious accommodations without compromising on comfort or style.
