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TEMPE, ARIZ. — NorthMarq Multifamily has arranged the sale of Nines Apartments, located at Baseline and Rural roads in Tempe. Los Angeles-based Tides Equities LLC acquired the property from 3rd Ave Investments for $38.5 million.
Built in 1974, Nines Apartments features 244 units in a mix of studio, one-, two- and three-bedroom layouts. The buyer plans to implement interior and exterior improvements to the property.
Bill Hahn, Trevor Koskovich and Jesse Hudson of NorthMarq Multifamily represented the buyer and seller in the transaction.