The Delaware Nadler Company LLC of Phoenix paid just $50,000 less than the asking price for the Country Gables apartments, getting a class B complex with occupancy rates that regularly top 90%, Mark Forrester, with the Phoenix office of Hendricks & Partners, tells GlobeSt,com."It's a very strong northwest location and the school across the street helped too," Forrester said of the intense bidding for the 15010 N. 59th Ave., Glendale property. He added the complex's prime location near the school allows it to maintain consistent occupancy levels above 90% in the one- and two-bedroom units.
The complex, which was built in 1984, is comprised of 44 two-bedroom, two-bath units and 95 one bedroom, one-bath apartments. Rents range from $499 to $679 per month.
Forrester represented seller Country Gables Partnership of San Diego in the deal. The buyer was represented by Ric Holway with Marcus & Millichap's Phoenix office.
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