Location: Tempe, Arizona
Suite Count: 194
Square Footage: 182,300
Acquisition Date: Jun 2017

Brass Enterprises Inc. has entered the Phoenix multi-family market with the $41.81 million acquisition of the 194-unit Aura on Broadway apartments at 1221 E. Broadway Road in Tempe, Arizona. Brass purchased the property from Trinsic Residential/ CNL Growth Properties. The property offers a mix of studio, one, two, and three-bedroom contemporary apartment homes. Completed in 2016, Aura on Broadway has been thoughtfully designed and diligently constructed to out-perform its denser, more expensive competition over the long-term. Located near Downtown Tempe and Arizona State University, the Property benefits from the explosion of employment and lifestyle opportunities as Tempe emerges as the new urban epicenter of Metro Phoenix. Moving forward, the property will be branded by just its address and will be know as 1221 Broadway Apartments.