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4/12/22
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Scottsdale-based Alliance Residential Company and American Realty Advisors teamed up in the purchase of just over nine acres of development land in Glendale, AZ for $13.5 mil. The venture plans to construct a brand new 314-unit apartment community on the land.
The property is conveniently located within the Westgate Glendale Entertainment District that comprises 8 msf of shopping, dining, entertainment, hotels, residential, parks and office space. Westgate also houses the Gila River Arena entertainment venue, and State Farm Stadium, home to the NFL Arizona Cardinals.
David Fogler and Steven Nicoluzakis with Cushman & Wakefield’s Multifamily Advisory Group in Phoenix represented the seller, YAM Properties, in the transaction.
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