TEMPE, AZ – Safehold Inc. has closed its third ground lease in the Phoenix metropolitan area for $54 million at a class A student housing property near Arizona State University.
The lease facilitates the acquisition of the 384-unit property, Rise on Apache. The 15-story student housing community features a total of 833 beds and high-end in-unit finishes. The property offers outdoor amenities, such as an expansive rooftop deck, a pool, hot tub, outdoor grills, running track and a JumboTron. Rise on Apache also features a fitness center, golf/ski simulator, rock-climbing wall, game lounge and sauna.
The community is situated in the city's downtown neighborhood.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
