TruAmerica Multifamily expanded its portfolio in the Phoenix MSA with the acquisition of Mission Springs in Tempe, AZ. Mission Springs represents TruAmerica’s 2nd acquisition of 2020 and is the 7th property acquired in the Phoenix MSA. TruAmerica will bring all units to a consistent, high-quality finish-level by renovating all classic and partially renovated unit interiors. TruAmerica also plans to make improvements to the community exterior and common area amenities, including upgrades to the dog park, landscaping, and outdoor barbecue grilling stations.
Mission Springs is a garden-style community built in 1987 and features an attractive unit mix comprise of one-bedroom apartment homes (49%), and two-bedroom apartment homes (51%) with floorplans averaging 706 square feet. All homes feature fully-equipped kitchens, large balconies or patios, central air/heating, and a full-size washer and dryer. The community is highlighted by three sparkling swimming pools and spa, a fitness center, package lockers, business lounge, dog park, and outdoor picnic and barbecue grilling areas.
The property is strategically located in the South Tempe submarket at the intersection of the I-10 and US 60 freeways, providing convenient access to all areas of the Phoenix Metroplex. Mission Springs is located within 10 minutes of the Downtown Phoenix CBD and Sky Harbor International Airport. Additionally, Mission Springs is located less than a mile from Whole Foods Market, Home Depot, CVS, and The Arizona Mills Mall, which is home to The Seas Life Arizona Aquarium and Legoland Discovery Center Arizona.
*In select units