IPA Capital Markets Arranges $52M Refi on Glendale Luxury Multifamily
IPA Capital Markets, a division of Marcus & Millichap specializing in capital markets services for major private and institutional clients, arranged the $52-million financing of Arista Glendale, a 98-unit luxury multifamily property located at 520 N. Central Ave. in Glendale. Stefen Chraghchian, IPA Capital Markets senior director located in Marcus & Millichap’s Encino office, secured the financing with Dwight Capital. The loan is non-recourse and features a five-year, interest-only term at 67.5% loan-to-value.
Chraghchian said, “Arista is a best‑in‑class community located in the heart of Downtown Glendale. This refinance provides our client with a flexible structure that supports both the property’s performance and their business needs.”
The property features a mix of two- and three-bedroom units with a full amenity package. Amenities include in-unit laundry, a 24/7 fitness center, resort-style swimming pool with a spa and private cabanas, a lounge, outdoor firepit, barbecue area, billiards gaming area and parking.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout