TriPost Capital Partners has acquired a minority stake in The Carmin, alongside the property’s existing owners, Invesco Real Estate Income Trust (INREIT), an institutionally managed public nonlisted REIT, and Alden Street Capital, a student housing investment company founded in 2015.
INREIT will retain a significant ownership stake in the property. This transaction marks the first investment out of TriPost’s Asset Solutions strategy.
Located at 1000 East Apache Blvd. in Tempe, Ariz. — just steps from the Arizona State University campus — The Carmin is a class A, 384-unit, 833-bed, student housing property that offers studio and one-, two- and four-bedroom apartments. The highly amenitized property features designer-inspired interiors with private bedrooms and bathrooms, a 24/7 fitness center with a sauna, a rooftop pool, communal study areas, in-unit washers and dryers, and on-site retail.
“As longtime student housing investors, we’re seeing heighte
