Bascom Arizona Ventures Spins Off Tempe Townhome Rental Community
Dolce Villagio Lofts, a 37-unit multifamily asset was sold for $21.25 million or $574,324 a unit. Completed in 2007, Dolce Villagio Lofts has seven residential buildings, pool and spa. Some of the townhomes, which average nearly 1,500 square feet each, have private backyards. All have direct-access two-car garages.
The property is located within walking distance of Tempe’s Mill Avenue entertainment district and close to Arizona State University.
Institutional Property Advisors Steve Gebing and Cliff David represented the seller and found the buyer.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.