OAK BROOK, IL - Inland Real Estate Acquisitions, LLC announced today that it negotiated and closed the purchase of a 190-unit luxury build-to-rent style multifamily property located in Glendale, Arizona. Mark Cosenza, senior vice president of Inland Real Estate Acquisitions, LLC, with assistance from David Neboyskey, VP and associate counsel of The Inland Real Estate Group, LLC, Law Department, completed the deal on behalf of an Inland affiliate.
The property, renamed Onyx at Westgate, was developed in 2022 and consists of 58 one-bedroom, 85 two-bedroom and 47 three-bedroom one-story bungalows. Each unit features upscale amenities including gourmet kitchens, oversized windows, 10-foot ceilings, wood plank LVT flooring, high-end finishes and a smart home technology package.
Onyx at Westgate also offers a variety of community amenities including a resort-style pool and spa, outdoor firepits, community lawn area, state-of-the-art fitness center, dog park, clubhouse, covered parking and optional garages for residents. The property is ideally located adjacent to the Glendale Sports and Entertainment District, Desert Diamond Casino, Peoria Crossings, Park West and Glendale Crossings shopping centers, St. Joseph’s Westgate Medical Center and two miles from the soon-to-be completed VAI Resort.
“This bungalow-style, build-to-rent property is an optimal living destination for those seeking a hassle-free home that offers high-quality amenities,” said Cosenza. “With seamless access to a plethora of shopping, dining and entertainment options in the nearby area, this community’s desirable location in Glendale, combined with luxury resort-style finishes, make this the type of multifamily property we continue to seek for acquisition.”
The property was 92 percent occupied at closing.
Since inception, Inland Acquisitions has facilitated more than $55 billion of purchases including multifamily, single-tenant properties, self-storage, student housing, medical office buildings and retail properties.