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TEMPE, ARIZ. — University Partners has acquired Vertex, a 600-bed student housing community located near Arizona State University in Tempe. The property was built in 2015 and offers a mix of one-, two-, three- and four-bedroom units with bed-to-bath parity.
Shared amenities include 7,700 square feet of retail space, a resort-style swimming pool, two-story fitness center with a rock-climbing wall, clubhouse, private study rooms and a cycle room. University Partners plans to upgrade and refresh community common areas and will oversee management of the property.
The seller and terms of the transaction were undisclosed.