Decron Properties Corp. has bought Arrowhead Ranch by Baron, a 256-unit community in Glendale, Ariz., for $101 million.
Built in 1996, the property, which will be rebranded as The Lakes at Arrowhead Ranch, is located on a low-density site (±16 units per acre) at 20250 North 57th Ave. in the master-planned community of Arrowhead Ranch, one of the Northwest Valley’s most coveted suburban neighborhoods. The traditional garden-style community offers a mix of one- two- and three-bedroom apartment homes that feature upscale amenities in both the units and the common areas.
With the addition of Arrowhead Ranch, Decron has now acquired 1,352 units in the Phoenix MSA during the past eight months among five properties in the submarkets of Tempe, Chandler and Glendale.
Arrowhead Ranch is adjacent to the Loop 101, giving residents access to multiple employment hubs across Glendale and Phoenix, such as the Deer Valley and Interstate 17 Employment Corridor, home to such F
