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Tempe, Ariz. — Tara Investment Group has acquired The Mark, a 229-bed student housing community located near the University of Arizona in Tempe, from Nelson Partners for $36.1 million.
The property offers furnished and unfurnished studio, one- and two-bedroom units with new appliances, quartz countertops and finished concrete flooring. Shared amenities include a resort-style swimming pool and sun deck, double-decker hot tubs, a water slide, gas grills, two elevators and a 24-hour fitness center.
The property was built in 1970 and remodeled by Nelson Partners in 2014. At the time of sale, the community was 97 percent occupied.