Tempe Apartments Sell for Nearly $60M

Acacia Capital Corp. has acquired the 244-unit San Marquis apartments in Tempe for $58.5 million from a joint venture between Sequoia Equities and Mark-Taylor Residential.

The property is a class-A multifamily property featuring outdoor entertainment kitchen, state-of-the-art fitness center with stone and travertine finishes, and a luxury resident clubhouse. It has one-, two- and three-bedroom floorplans.

CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of Phoenix Multifamily Institutional Properties represented the sellers in the deal.