Wealhouse Capital Management Sells 164-Unit Multifamily Community In Glendale For $20 Million

The property asset involved in the transaction is a multifamily community located at 4441 West Bethany Home Road, Glendale, AZ. The sale price for this property was $20,000,000, and it comprises 164 units, resulting in a price per unit of $121,951. The property, known as Summers Point, was built in 1980 and includes 98 renovated units, offering substantial upside potential in a rapidly growing market.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $20,000,000
• Units: 164
• Price Per Unit: $121,951
• Seller: Wealhouse Capital Management
• Brokerage: JLL
• Brokers involved: Brian Smuckler, Jeff Seaman, Derek Smigiel & Bryson Fricke

JLL Capital Markets facilitated the sale and financing of the multifamily community on behalf of Wealhouse Capital Management. This transaction highlights the involvement of key brokers who played a significant role in the deal, with notable projects in Glendale driving the potential for growth in the area.