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Investor in Arizona Apartment Seeing Double as Complex Price Jumps

Southern California Investor Buys Tempe Multifamily Property for More Than Twice Previous Sale Price
Mercury on Mill in Tempe, Arizona, was built in 1972. (CoStar)
Mercury on Mill in Tempe, Arizona, was built in 1972. (CoStar)

A Southern California multifamily investor bought the 167-unit Mercury on Mill apartment complex in Tempe, Arizona, for $56.5 million, more than twice its sale price just two years ago.

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