[[{“value”:”
StonePeak Acquires Park Place Tempe for $125M
StonePeak has acquired Park Place Tempe, a 285-unit student housing complex located near Arizona State University, for $125 million.
The previous owner, Park7 Group, is an investor known for its student housing developments, including a project in Flagstaff. Built in 2020, Park Place Tempe is situated at 1317 S. Terrace Road, just under a mile from ASU’s campus and conveniently close to the light rail. The complex features a range of amenities such as a study lounge, pool, grill area, movie theater, fitness center, and golf simulator.
Park Place Tempe marks one of the significant multifamily property sales in the Phoenix metro area this year. Other major transactions include Camden Copper Square Apartments, a 332-unit property in downtown Phoenix that sold last month for $77 million, and The Quincy at Kierland, a 266-unit luxury apartment complex in Scottsdale, which was purchased by Los Angeles-based Stockdale Capital Partners LLC for $110.25 million. That deal closed on October 31.
These transactions reflect continued investor interest in the Phoenix-area multifamily market as demand for housing around major universities and urban centers remains strong.
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