FCP, Tides Equities Acquire Solara at Mill Avenue Apartments in Tempe for $77M
TEMPE, ARIZ. — A joint venture between FCP and Tides Equities has purchased Solara at Mill Avenue, a multifamily community in Tempe. An undisclosed seller sold the asset for $77 million.
Solara at Mill Avenue features 515 apartments in a mix of one- and two-bedroom layouts with updated kitchens, new cabinets, quartz countertops, wood-style flooring and large windows. Community amenities include a clubhouse, covered parking, dog park, fire pit, event lawn, swimming pool and 24-hour parcel/package concierge.
Matt Pesch of CBRE brokered the transaction. Solara at Mill Avenue is adjacent to Tides at South Tempe, which the joint venture acquired in June.