Tempe – A group of tenant-in-common (TIC) investors paid $32.255 million ($143,995 per unit) to buy a majority ownership interest in the 224-unit San Marquis Tempe apartments at 577 E. Baseline Road. Records show Greenery Arizona LLC, et al., acquired an 80.22 percent interest in the multi-family community. The seller, which has retained a 19.78 percent interest in the project, was Rural Baseline Apartments LLC. That company, which completed development of the apartments in 2012, is a venture formed by Mark-Taylor Residential in Scottsdale (Scott Taylor, Joe Lewandowski, principals) and Kitchell Development Corp. in Phoenix (Jeff Allen, pres.). Sean Cunningham, Tyler Anderson, Asher Gunter and Matt Pesch of CBRE in Phoenix assisted the seller in the deal. Continue reading
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