New York firm scoops up Tempe student housing complex in $125M deal
Park Place Tempe, a 285-unit student housing complex, sold for $125 million near Arizona State University’s Tempe campus.
The 285-unit Park Place student housing complex at 1317 S. Terrace Road in Tempe changed hands in November 2025. (Photo via Helena Wegner)
(Photo via Helena Wegner)
A 285-unit student housing complex has sold for $125 million near Arizona State University’s Tempe campus.
Park Place Tempe was acquired by SP Cardinal Tempe Owner LLC, an entity connected to New York-based investment firm Stonepeak, according to Tempe-based real estate database Vizzda LLC.
The seller was New York-based Park7 Group, a real estate development company with a portfolio of student housing communities, including Park Place Flagstaff.
Neither Stonepeak or Park7Group responded to a request for comment.
This story is posted in partnership with Phoenix Business Journal. Click to read the full story.
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Comments
2 Comments
I'm sure this will create an affordable off-campus housing option for ASU students (said no one ever)
Wash, rinse, repeat.