Rise48 Equity Purchases 160-Unit La Serena Apartment Community in Tempe, Arizona

by Amy Works

TEMPE, ARIZ. — Rise48 Equity has purchased La Serena, an apartment property located on seven acres in Tempe, from a private seller for an undisclosed price.

Built in 1988 by Mark-Taylor, La Serena features 160 apartments spread across 20 residential buildings. The community features courtyards, a swimming pool and spa, fitness center, shaded barbecue grilling stations and covered parking. Apartments offer full-size washers/dryers, walk-in closets with mirrored doors and private patios or balconies with exterior storage space. Select two-bedroom units have fireplaces.

Cliff David and Steve Gebing of Institutional Property Advisors, a division of Marcus & Millichap, and Darrell Moffitt and Paul Bay of Marcus & Millichap represented the seller and procured the buyer in the deal.

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