A 285-unit student housing complex near Arizona State University’s Tempe campus has sold for $125 million.
Park Place Tempe was acquired by SP Cardinal Tempe Owner LLC, an entity connected to New York-based investment firm Stonepeak, according to Tempe-based real estate database Vizzda LLC.
The seller was New York-based Park7 Group, a real estate development company with a portfolio of student housing communities, including Park Place Flagstaff.
Neither Stonepeak nor Park7 Group responded to requests for comment.
https://ktar.com/arizona-business/park-place-tempe-sale/5788030/
