TEMPE, ARIZ. — Greystar has purchased Flagstone Apartment Homes, a multifamily asset located 30 W. Carter Drive in Tempe. RedHill Realty Investors and its joint-venture partner sold the asset for an undisclosed price.
Situated on nearly 18 acres, the property features 376 units in a mix of studio, one- and two-bedroom layouts. The 248,912-square-foot asset was built in 1985.
Cliff David of Marcus & Millichap and Steve Gebing of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in deal.