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University Partners Acquires 600-Bed Community Near Arizona State University

Tempe, Ariz. — University Partners has acquired Vertex, a 600-bed student housing community located near Arizona State University in Tempe. The property was built in 2015 and offers a mix of one-, two-, three- and four-bedroom units with bed-to-bath parity. Shared amenities include 7,700 square feet of retail space, a resort-style swimming pool, two-story fitness center with a rock climbing wall, a clubhouse, private study rooms and a cycle room. University Partners plans to upgrade and refresh community common areas and will oversee management of the property. The seller and terms of the transaction were undisclosed. “Vertex is a tremendous addition to our growing portfolio,” says Troy Manson, principal of University Partners. “We are thrilled to be back in the Tempe market and look forward to executing on our business plan with this high quality and well-located asset.”