Trinitas Acquires Student Housing Development Site Near Arizona State University
TEMPE, ARIZ. — Trinitas has acquired a development site located at 707 S. Forest Ave. near Arizona State University in Tempe. The company plans to develop a 530-bed student housing community offering studio, one-, two-, three- and four-bedroom units above street level retail. Shared amenities at the development will include a swimming pool, fitness center, collaboration spaces and an open-air skydeck.
A joint venture between Trinitas and Harrison Street provided equity financing for the site acquisition. PNC Bank provided construction financing.
The project is scheduled for a 2021 opening.