Monument Capital Management finalized its purchase of Casa Bellisima in Glendale, Arizona. Located at 6565 W Bethany Home Road, the apartment complex features 276 units in 18 two-story buildings. The price of the deal was not disclosed. The property includes a clubhouse, three swimming pools, on-site laundry facilities and a playground with a grilling area. This is the company’s first asset in the state and seventh acquisition for the firm’s Monument Opportunity Fund III which launched last year. The property will be managed by Monument Capital Management’s sister company, Monument Real Estate Services.
“The quasi off-market sale of Casa Bellisima provides a firm foothold as we expand our ownership presence in Arizona,” said Stuart Zook, president of Monument Capital Management. “The property’s below-market rents at an attractive price-per-unit allowed us to execute our area growth strategy.”
