CBRE Sells 156-unit Royal Village in Glendale for $19.8M
January 12, 2021
CBRE has facilitated the sale of Royal Village, a 156-unit apartment community in Glendale, Ariz., for $19.8 million.
Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke of CBRE in Phoenix represented the seller, G&B Investments, LLC, and the buyer, Tides Equities LLC, in the transaction.
Located at 6060 West Royal Palm Road, the property totals 109,716 square feet and sits on 4.23 acres. The three-story community, originally built in 1985, features one-, two- and threebedroom floorplans that range in size from 450 to 1,070 square feet. The units feature stainless steel appliances, quartz countertops, white shaker-style cabinets, tile backsplash, and wood-style flooring and a washer and dryer. Community amenities include a swimming pool, BBQ/picnic area, clubhouse and covered parking.
The community is located four blocks West of I-10 and just North of Northern Avenue. Residents benefit from nearby access to the Interstate-17 and Route 60 employment corridors, the Phoenix Metro bus system and Downtown Glendale. The property is located within 15 minutes of the Westgate Entertainment District, Gila River Arena and the University of Phoenix
The CBRE team completed 45 transaction in 2020 with over $221 million in consideration throughout Metro Phoenix.