Michael Dorrell Of Stonepeak Acquires Park Place Tempe From Park7 Group For $125M

The transaction involves a 285-unit student housing complex located at 1317 South Terrace Road in Tempe, AZ. The property was acquired for a price of $125,000,000, resulting in a per unit price of $438,596.

Summary of transaction details:

• Property Type: Student Housing
• Transaction Amount: $125,000,000
• Buyer: Michael Dorrell
• Buyer's Company: Stonepeak
• Seller: Park7 Group
• Units: 285
• Price Per Unit: $438,596

Michael Dorrell represents Stonepeak in this transaction, acquiring the property from Park7 Group, which is the seller in the deal. The acquisition centers around a student housing complex situated near Arizona State University, indicating a strategic investment in a market with a demand for student accommodations.