TEMPE, AZ-San Diego-based Pierce Education Properties, in a joint venture with Swiss-based Partners Group, has purchased Block 1949, a 225-unit student housing complex near McClintock Drive and Price Road in Tempe. The company has bought the property from Dallas-based JLB Partners for $52 million.
The gated community, constructed in 2010, serves Arizona State University students. A branch of Pierce Education Properties, Pierce Property Management, will operate the student housing complex.For the full story, go to Phoenix Business Journal.
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