Phoenix & Southwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Continental, MLG Capital Acquire TOD MF in Tempe, AZ
Denver-based Continental Realty Advisors, Ltd., in partnership with Milwaukee-based MLG Capital, acquired Tempe Metro, a 408-unit apartment community in Tempe, AZ for $53.5 million.
Continental Realty Advisors’ David Snyder says, “Tempe Metro is an outstanding TOD property in a dynamic area of Tempe. The property is minutes from ASU, the largest undergraduate university in the nation, surrounded by expanding corporate business centers in the pathway of future demand.”
Completed in 2010, the property features studio, one, two and three-bedroom apartment homes with 9-foot or 17-foot vaulted ceilings. The four-story, elevator-served community also contains an 800-space structured parking garage. Amenities include a state-of-the-art fitness center, pool, spa, outdoor kitchen, resident lounge, clubhouse and leasing center.
JLL’s John Cunningham and Charles Steele brokered the deal, and HFF’s Josh Simon and Brad Miner originated the loan.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Sale/Acquisition

