13
Mar
Pacific Development Partners Purchases 290-Unit Upscale Apt. Complex in Phoenix
Pacific Development Partners, a Los Angeles-based firm that focuses on specialty projects, build-to-suits, redevelopment and acquisition, purchased a 290-unit luxury apartment complex in Tempe, AZ. Transwestern Development Co. (TDC) sold Vela at Town Lake for $73.2 million, or approximately $252,000 per unit.
The Class A apartment complex at 555 N. College Ave. comprises studio-, one- and two-bedroom units ranging from 543 to 2,114 square feet…
Source: Costar News
