Tempe, AZ July 24th, 2015 - ApexOne Investment Partners, a privately-held national multifamily investment firm and fund manager, is proud to announce its acquisition of
Gateway at Tempe apartments serving Arizona State University in Tempe, AZ.
"We are very excited to acquire Gateway and to expand our foot print into Arizona," said Tim Burns, partner and head of acquisitions at ApexOne. "This asset is a perfect fit for our Fund's value enhancement approach."
Gateway at Tempe was developed in 1997 as purpose-built student housing and consists of 288 one, two, three, and four bedroom apartment homes ranging from 477 square feet to 1320 square feet. Amenities include clubhouse, fitness facility, resort-style swimming pool, hot tub, computer lab, outdoor fireplace, BBQ grills, bike racks, tanning bed, sand volleyball court, tennis courts, basketball court, and covered parking. Each unit is fully furnished including washer dryer connection, private patio, intrusion alarm and built-in entertainment center.
An extensive property enhancement program will begin shortly after closing foc
using on expanding and improving the community amenity package as well as unit upgrades. Upon completion of the capital program, Gateway at Tempe will be held in portfolio. Peak Communities has been selected for on-site management.