Real Estate

Downtown Tempe apartments sold for $96M

Posted 5/18/22

 Institutional Property Advisors, a division of Marcus & Millichap, has arranged the sale of Hudson on Farmer, an apartment community in downtown Tempe.

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Real Estate

Downtown Tempe apartments sold for $96M

Posted

 Institutional Property Advisors, a division of Marcus & Millichap, has arranged the sale of Hudson on Farmer, an apartment community in downtown Tempe. Ideal Capital Group purchased the property from 8th & Farmer Owner LLC for $96 million, or $561,404 per unit.

Completed in 2021, Hudson on Farmer features 171 apartments with full-size washers/dryers, walk-in showers and private balconies. Community amenities include a heated swimming pool, spa and second-story resident lounge with social space, a conference room and workspaces.

The landscaped courtyard offers a covered outdoor dining area, barbecue grills, a firepit, desert vegetation and misting systems. The property also features a fitness center, bike parking room and electric vehicle charging stations.

Steve Gebing and Cliff David of IPA represented the seller and procured the buyer in the deal.

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