TEMPE, AZ – An entity formed by the Los Angeles-based, Decron Properties has acquired a newly-developed, 276-unit, class A apartment community in Tempe, AZ for $96.2 million.
The multifamily asset, titled Broadstone Rio Salado, was acquired from the property's original developer, Phoenix-based, Alliance Residential Co. Phoenix Capital Holdings served as Alliance Residential's joint-venture equity partner in the development.
Located at 2325 E. Rio Salado Pkwy, the newly-constructed asset was completed in 2020.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
