A California real estate firm recently purchased a multifamily complex in Glendale for $101.5 million.

Los Angeles-based Decron Properties bought Arrowhead Ranch by Baron, a 256-unit complex that sits adjacent to the Loop 101.

The Glendale apartments were first built in 1996 and will be rebranded as The Lakes at Arrowhead Ranch. The complex is located on 16 acres at 20250 N. 57th Ave. in the Arrowhead Ranch master-planned community.

The traditional garden-style community offers a mix of one, two and three-bedroom apartment homes with upscale amenities in the units and common areas, according to Decron.

The open-concept apartment homes have large windows, white Shaker-style cabinetry, expansive breakfast bars, full-size washers and dryers and garden-style soaking tubs. Some units also have gas fireplaces and lake views.

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By Audrey Jensen, Reporter - Phoenix Business Journal