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199 ASU-Area Apartments Ready for Tenants
A joint venture among three investment groups has delivered Vero, a 199-unit rental community in Tempe. Transwestern Development Co., Globe Corp. and University Realty developed the project, which broke ground in 2021. Greystar will handle management and leasing at the property, with MT Builders serving as the general contractor.
The partnership secured $35.3 million in construction financing from Bankers Trust Co., according to Yardi Matrix.
The seven-story building at 651 E. Sixth St. includes studio, one- and two-bedroom floorplans ranging from 352 to 930 square feet. Some rooms have Murphy beds and balconies.
Community amenities feature a clubhouse with a pool table and wet bar, a coworking space with two conference rooms, a fitness center, a swimming pool with a lounge area, bike storage, a dog wash station and 139 parking spots.
Vero came online on a 1-acre parcel within Novus Innovation Corridor, a 355-acre master-planned development at Arizona State University’s campus.
- ◦Development
