Decron Properties Purchases Multifamily Asset in Tempe for $64.7M

by Amy Works

TEMPE, ARIZ. — Decron Properties has purchased 1221 Broadway, an apartment property located in North Tempe, for $64.7 million.

Built in 2015, the community features 194 apartments in a mix of studio, one-, two- and three-bedroom layouts spread across 10 two- and three-story residential buildings. Averaging 940 square feet, the units include nine-foot ceilings, stainless steel appliances, granite countertops, custom cabinetry, full-size washers/dryers, wood-style vinyl flooring, walk-in closets and a private patio or balcony.

Community amenities include a pool and deck with oversized spa and lounge seating with canopies; outdoor kitchen with grills; a clubhouse with an indoor entertainment area with oversized flat-screen TVs; full-service coffee bar; WiFi café; and a fitness center.

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