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Value-add investors are finding a goldmine in Glendale. The market has a healthy stock of vintage apartments in need of renovation, no rent control and rental growth averaging 4% annually. Champion Real Estate Co. is one of the investors taking advantage of the market fundamentals. The firm has acquired a two-property multifamily portfolio for $33.6 million with plans to invest $50,000 per door into the properties and bring rents to market rate. Arthur Arejian of Vanguard Investments brokered the deal, and says that he is seeing healthy activity from value-add players in this market. To find out more, we sat down with Arejian for an interview.

GlobeSt.com: Why has Glendale become such an active investment market for multifamily?

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance writer and editor living in Los Angeles whose work has appeared in such publications as Travel + Leisure, Angeleno and Los Angeles Magazine.

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