Acacia Capital Acquires 224-Unit Multifamily Community in Tempe for $58.5M
TEMPE, ARIZ. — Acacia Capital Corp. has purchased San Marquis, an apartment property located at 577 E Baseline Road in Tempe. A joint venture between Sequoia Equities and Mark-Taylor Residential sold the asset for $58.5 million.
Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE’s Phoenix Multifamily Institutional Properties represented the sellers in the transaction.
The Class A multifamily community features a palm tree-lined, resort-style swimming pool with ramadas and an outdoor entertainment kitchen; a fitness center with stone and travertine finishes; and a resident clubhouse. The property features 224 units in a mix of one-, two- and three-bedroom layouts with nine-foot ceilings, decorative crown molding, recessed lighting, granite countertops in the kitchens and bathrooms, stainless steel appliances and full-size washers/dryers.