The Domain at Tempe Student Housing Sells for $65 Million

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The 299-unit / 959 bed Domain at Tempe Student Housing Apartment Complex sold Thursday for $65 million or $217,000 per unit. It is located near the intersection of McClintock Drive and Apache Boulevard, less than two miles east of the Arizona State University Tempe campus. The Scion Group purchased this asset from Harrison Street. Both buyer and seller are based in Chicago.

A five-story parking garage, two pools, two strip retail buildings and a three-story clubhouse are included on the property. The unit mix includes units of two, three, and four bedrooms.

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Gateway at Tempe Apartments Conveys in Bankruptcy Sale

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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!