Arizona apartments undergo sale

Marcus & Millichap arranged the sale of The Vineyards apartment community in Glendale, Ariz.

The value of the transaction was $14.6 million.

Built in 1984, The Vineyards is located at 6706 N. Dysart Road, one mile east of Luke Air Force Base. The property offers 228,400 rentable square feet situated on 10.5 acres. The garden-style community consists of 104 one-bedroom units and 196 two-bedroom units. Common amenities include a basketball court, sand volleyball court, spa, playground, fitness center, laundry facilities, two swimming pools and nine barbecue areas.

The sellers included Richard Meese, Charlie Dunlap, Lydia Torea, Bruce Henderson and Gary Magee of Chandler, Ariz. Pelican Property Management was the buyer.

Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage.

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