Sterling ASU at Arizona State
Arizona State – Tempe, Arizona | 5 Stories | 260 Units
Funding date:
December 2015
Construction start:
July 2016
Construction completion:
August 2018
Leasing completion:
September 2019
Asset sale date:
August 2019
Sterling ASU at Arizona State is a 5 story, 260 unit off campus luxury student housing development. The project was built, leased and managed by our development partner, The Dinerstein Companies. The project is an institutional quality product in a prime location across the street from ASU in Tempe, Arizona. This institutional quality development features high end amenities that include a 10,000 sq.ft. clubhouse, fitness center and a resort style pool.
The submarket stays 98% occupied and the enrollment at ASU continues to increase. After a two year lease up phase near 100%, the project was sold to an institutional investor.