Tempe Class-B Office Building Trades Hands

An investor has secured acquisition financing to acquire the MarQ at 1st in Tempe, a class-B apartment building.

An investor has secured a $22 million loan to acquire MarQ at 1st in Tempe, a 164-unit class-B apartment building. NXT Capital funded the acquisition loan.

Located at Tempe Town Lake and a mile from northwest Arizona, MarQ at 1st includes two pools, a 24-hour fitness center, enclosed bike station with racks and outdoor barbecue and picnic areas.

Scott Holland and Jeremy Hammill in the Phoenix office of Berkadia Commercial Mortgage placed the loan with NXT Capital.

Recommended Stories