MG Properties acquires NOVO Broadway Apartments in Tempe for $100.25m
MG Properties announced its $100.25 million acquisition of NOVO Broadway Apartments (formerly known as Parc Broadway), a residential community located in Tempe, Ariz., recently completed by Evergreen Devco.
Key features of NOVO Broadway Apartments include its location in Tempe, offering residents easy access to growing employment centers anchored by large technology, manufacturing and healthcare companies.
The sellers, Evergreen Devco, were represented by IPA. Financing for the transaction was provided by Freddie Mac and arranged by IPA.