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Mission Springs Apartment Homes Fetches $33.8M in Tempe

29th Street Capital Buys 306-Unit Apt. Complex
December 6, 2017
29th Street Capital purchased The Mission Springs apartment community located at 1311 W. Baseline Rd. in Tempe, AZ from Gelt, Inc. for $33.8 million, or approximately $110,000 per unit.

The 306-unit complex was sold in an off-market deal. The apartments were built in 1987 and consist of 24 buildings. The units range from one- to two-bedroom apartments ranging from 506 to 884 square feet. The apartment community also features amenities.

Jim Crews of Cushman & Wakefield represented the seller.

Please see CoStar COMPS #4066950 for more information on this transaction.
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