IDEAL Capital has recently acquired a 325-unit apartment complex in Glendale for $108 million. The project, named Sentio and developed by Hines, was fully leased at the time of sale through a master agreement with a major employer. This purchase marks IDEAL’s continued growth in the metro Phoenix area, bringing their total number of units to over 1,000.
The asset spans across 13 acres and offers one-, two- and three-bedroom floorplans ranging from 640 to 1,388 square feet. Residents can enjoy various community amenities such as a swimming pool with sundeck, clubhouse with coworking spaces, dog park, fitness centers and gaming area.
To finance this acquisition , IDEAL secured a $60 million loan from Freddie Mac through negotiations led by Asher Gunter of CBRE . This transaction further solidifies IDEAL’s presence in the market after their initial entry earlier this year with the purchase of The Hyve – another rental community consisting of 296 units for $84.5 million.
In summary: A new addition to its portfolio brings IDEAL Capital’s total number of units in metro Phoenix above thousand mark as they acquire Sentio – an impressive rental community built on thirteen-acre land featuring modern amenities such as swimming pool , clubhouse etc., which was fully occupied at time when it changed hands between developer Hines & buyer Ideal; latter securing financing worth sixty millions dollars via negotiations spearheaded by Asher Gunter (CBRE) ; all these developments marking company’s second investment since entering local market few months ago – first being eighty four point five millions dollar deal that saw them take control over two hundred ninety six unit property known simply as “The Hyve”.
