Gateway at Tempe Apartments Conveys in Bankruptcy Sale

Area Map

The 288-unit Gateway at Tempe Apartments near the corner of McClintock and University Drives sold Monday for a purchase price of $56.75 million, or just over $197,000 per unit with no debt recorded. Apex One Investment Partners acquired the property via bankruptcy sale. It had previously been sold for $51 million back in 2006, funded by a $33,150,000 loan with Wachovia Bank.

The complex consists of one, two, three, and four bedroom units. It was built in 1998 and is currently being used as ASU student housing.

For more information on this property including complete unit mix, history, and buyer/seller contacts, visit us at our website or send us an email. We're happy to hear from you!