ASU Portfolio

Address: 950 S Terrace Rd & 910 E Lemon Street, Tempe, AZ 85281
Market: ASU, Tempe, AZ
# of Units: 171
Acquisition Date: May 18th
Project IRR: 23.20%

In 2018, GLHP purchased “The Project: College Town and The Link” which is referred to as our ASU Portfolio. The two Class B student housing communities are comprised of 171 units and 304 beds. College Town and The Link are located in the City of Tempe, Arizona, just one block away from the Arizona State University (“ASU”) main campus. GLHP executed a $1.5 million renovation plan by August 2019 and then sold the Properties in 2022 at a 5.75% exit cap rate, resulting in an estimated portfolio return of 31.1% IRR and 2.60x Equity Multiple.