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TEMPE, ARIZ. — Passco InSite LLC, a joint venture between Passco Companies LLC and InSite Investment Realty, has acquired the 270-unit Ovation at Tempe for $25.8 million. The Class B community is located at 4502-4505 S. Hardy Drive.
Community amenities include a fitness center, two swimming pools, two spas, tennis court, children’s playscape, picnic area with barbeque grills and covered parking.
The property was originally built as a condominium complex. The JV plans to upgrade the units’ interiors, add carports, and enhance the property’s exterior and community amenities.