TEMPE, AZ – Western Wealth Capital has sold its 300-unit multifamily community, Signature Place in South Tempe, AZ, for $62.5 million to Knightvest Capital.

The multifamily asset, located at 600 W. Grove Parkway offers two resort-style swimming pools, a fitness center, lighted tennis courts and outdoor grilling areas.  The property's units feature nine-foot ceilings, fully-equipped kitchens, in-unit washers and dryings and private patios. Certain community units additionally offer walk-in closets, dual vanities and fireplaces.

"Signature Place is a great addition to our Phoenix portfolio," said Phil Lake, Knightvest Capital's SVP of acquisitions. "The seller was cognizant of the unique transaction environment and together we were able to deliver an outcome that was mutually beneficial. Signature Place will give us the opportunity to once again demonstrate our strength as a vertically integrated value-add buyer and provide a high-quality community to our residents, while helping our partners achieve a tremendous result."