TEMPE, AZ-Seattle-based Pillar Communities has paid $45.1 million for San Portella, a 308-unit apartment community at 2155 S. 55th St. in Tempe. A joint venture between Des Moines, Iowa-based Principal Real Estate Investors and Scottsdale-based Mark-Taylor Inc. has developed the complex in 2008.
Apartments at Fountainhead LLC was the legal selling entity and PrivatePortfolio Group LLC was the legal acquiring entity. The seller was represented by Asher Gunter, Sean Cunningham and Tyler Anderson of CBRE in Phoenix. For the full story, go to Phoenix Business Journal .
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