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Mission Springs Apartments Near Phoenix Fetches $54.1 Million

Los Angeles Investor Adds 306-Unit Complex to Growing Portfolio
The 306-unit Mission Springs Apartments in Tempe, Arizona, was 95% occupied at the time of sale. (CoStar)
The 306-unit Mission Springs Apartments in Tempe, Arizona, was 95% occupied at the time of sale. (CoStar)
By Thomas Ferguson
CoStar Research
March 2, 2020 | 9:22 P.M.

Los Angeles-based TruAmerica Acquisitions III has purchased Mission Springs Apartments, a 306-unit complex in Tempe, Arizona. 29th Street Capital, a privately-held investment and advisory firm headquartered in San Francisco, sold the property for $54.1 million, or about $177,000 per unit.

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