Storm Properties Acquires 200-Unit Multifamily Property In Glendale, AZ For $33.5M

The multifamily property located at 6240 North 63rd Avenue in Glendale, AZ was recently sold in a transaction on December 16, 2022. The property consists of 200 units and was sold for a price of $33,500,000, resulting in a per unit price of $167,500. The sale was facilitated by the brokerage firm Northmarq.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $33,500,000
• Address: 6240 North 63rd Avenue, Glendale, AZ
• Market: Glendale, AZ
• Buyer: Storm Properties
• Broker: Northmarq
• Units: 200
• Price Per Unit: $167,500

Storm Properties, represented by their broker Northmarq, acquired the multifamily property in Glendale. This transaction represents a significant investment in the Glendale market and highlights Storm Properties' growth strategy in the multifamily sector. The purchase price of $33,500,000 demonstrates the value and potential of this property for future returns.