Bridge Investment Group Purchases Phoenix Property
IPA brokered the sale of the Glendale, Ariz., apartment community.

HCW Development has sold Glen 91, a 296-unit multifamily asset in Glendale, Ariz., to Bridge Investment Group for $76.5 million, or $258,446 per unit. Institutional Property Advisors brokered the sale, with Executive Managing Directors Steve Gebing and Cliff David representing the seller and procured the Branson, Mo.-based buyer.
Completed in 2023, Glen 91 has climate-controlled interior corridors, a resort-style swimming pool, hammock garden, covered parking and attached garages. Apartments have nine-foot ceilings, laundry rooms with full-size washers and dryers and walk-in closets with built-in shelving. The average unit size is 871 square feet.
Booming market
Glendale and the West Valley’s municipalities have experienced outsized growth post-pandemic, with Glendale having the second-highest concentration of renter households in the West Valley. The municipality is projected to maintain steady growth well into the future, according to data from IPA. The Phoenix metro is one of the top markets drawing multifamily investment nationally.
The area is home to State Farm Stadium, Desert Diamond Arena and Tanger Outlets. The Westgate Entertainment District is within walking distance of the property. Glen 91’s proximity to Loop 101/the Agua Fria Freeway gives its residents a short commute to the Southwest Valley and Loop 303 employment corridors.
Major employers in the area include Amazon, PepsiCo, FedEx, Williams Sonoma, and REI. Open-air shopping center Gateway Pavilions, Banner Estrella Medical Center and Gateway Crossing Shopping Center are nearby.