X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

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.

More from this author

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2022 ALM Global, LLC. All Rights Reserved.