Trinitas and Harrison Street Asset Management have secured a floating-rate bridge loan to refinance Atmosphere Tempe, a 252-unit, 530-bed student housing high-rise serving Arizona State University in Tempe, Ariz.
Delivered in 2021, Atmosphere Tempe is located within walking distance of both the Arizona State campus and downtown Tempe’s popular Mill Avenue. The property’s community amenities include a rooftop pool and hot tub, resort-style sundeck with lounge seating, grilling stations, a fitness center with MIRROR virtual-training system, private study lounges, a computer lounge and a coffee bar. Units at Atmosphere feature ensuite bathrooms, full-sized washer and dryer, stainless-steel appliances and quartz countertops.
TSB Capital Advisors, a national student housing and multifamily real estate advisory service, arranged the financing. PGIM provided the debt.
