See who launched a new $100M real estate investment push here
Originally published by the Phoenix Business Journal. View original article here.
RSE Capital Partners — a Washington D.C. real investment firm — and Domain Communities — a Houston apartment investment company — have teamed to buy a Tempe development for $19.2 million.
The purchase is part a new $100 million multifamily investment push RSE and Domain are launching in the Phoenix market.
Studio 710 Apartment Homes is a 239-unit complex in Tempe near Hardy and University drives. That is near Arizona State University and Mill Avenue.
Berkadia helped close the deal.
“The Studio 710 acquisition was a complex transaction that RSE was able to navigate, executing on a competitive investment structure that allows the borrower to further realize their goal of increasing their footprint in the greater Phoenix market,” said Andy Hill, managing Director in Berkadia’s Austin office, who served as mortgage banker for the Tempe sale.
The seller was FPA Multifamily LLC.
Domain already owns five Phoenix area complexes totaling 2,200 units.