CBRE Completes $67.9 Million Sale of Alta Tempe

CBRE recently completed the sale of Alta Tempe, a 296-unit core Class A multifamily community located at 1260 E. University Dr. in Tempe, Ariz.

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DiNapoli Capital Partners purchased Alta Tempe and the seller, Wood Partners, was represented by Tyler Anderson, Sean Cunningham, Asher Gunter, and Matt Pesch of CBRE.

“Alta Tempe is a premier core community with a tremendous Downtown Tempe location,” said CBRE’s Gunter. “Alta Tempe provides residents with convenient Light Rail access and is located within only a short walk or bike ride to Arizona State University as well as major retail and entertainment amenities. Robust financial services and technology job growth occurring along Tempe Town Lake creates long-term demand for multifamily housing in Downtown Tempe, supporting a strong performance outlook  for Alta Tempe.”

Built in 2015, Alta Tempe is a luxurious Class A multifamily community featuring a comprehensive set of amenities including an expansive designer clubhouse, resort-style swimming pool and spa, bike maintenance room, state-of-the-art fitness center, and professional dog washing stations. Individual residences feature condominium finish-levels including nine and ten-foot ceilings as well as gourmet kitchens with granite countertops and stainless steel appliances. All residences have vinyl wood-plank flooring, full-size washer/ dryers, and private patios/ balconies.

 

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