Trinitas Acquires Development Site Near Arizona State University

by Katie Sloan

Tempe, Ariz. — Trinitas has acquired a development site located at 707 S. Forest Ave. near Arizona State University in Tempe. The company plans to develop a 530-bed, mixed-use community offering studio, one-, two-, three- and four-bedroom units alongside street level retail. Shared amenities at the development will include a swimming pool, fitness center, collaboration spaces and an open-air skydeck. Equity financing for the acquisition was provided by a joint venture between Trinitas and Harrison Street. Construction financing has been provided by PNC Bank. “We are pleased to continue our relationships with Harrison Street and PNC,” says Loren King, CEO of Trinitas. “Our strategic partnerships with both Harrison Street and PNC have been very successful in the past and enabled us to quickly close on this exciting opportunity and hit the ground running for a 2021 opening.”

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