Glendale Has New Competition, Same Fundamentals

IEC’s latest buy, the Towne at Glendale, a 126-unit multifamily property

LOS ANGELES—Glendale has grown tremendously in the last couple of years, becoming one of the most sought-after investment and development markets in Los Angeles, but for long-time investors in the market, all that has changed is the competition. Interstate Equities Corp. has been a player in the market for decades, most recently purchasing the 126-unit Towne at Glendale for $54 million, and the market remains on their target investment list because of its strong fundamentals and steady demand. To get a closer look at the firm’s strategy in the market and what it means to be such a long-time player, we sat down with Brendan Gibney, an acquisitions professional at IEC, for an exclusive interview. Here, he tells us about their Glendale strategy and why it continues to be such a great market.

GlobeSt.com Why is and does Glendale remain such an attractive market for you?