Decron Properties Secures $40M Acquisition Loan For Glendale Multifamily Property

The Hangar at Thunderbird is a multifamily asset located at 15301 North 57th Avenue in Glendale, AZ. This 266-unit apartment complex was acquired by Decron Properties for $69 million, with New York Life Insurance Co. providing $40 million in financing for the acquisition. The property offers one-, two-, and three-bedroom units with modern amenities and is strategically situated in close proximity to Phoenix.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $40,000,000
• Market: Glendale, AZ
• Lender: New York Life Insurance Co
• Landlord: David J. Nagel - Decron Properties
• Units: 266

New York Life Insurance Co. facilitated the $40 million financing for Decron Properties' acquisition of Hangar at Thunderbird. The property was purchased from P.B. Bell and offers residents a range of unit options in a well-connected location.