TAM invested with Appian Capital in Tempe, which closed on its Papago Park project in September 2021
Updated: Jun 15, 2022
We are excited to report that Appian Capital and Alliance Residential have closed on the sale of a 300-unit Class A luxury multifamily community Broadstone Grand to Decron Properties for $106.5 million.
TAM was an investor with Appian, a real estate private equity firm that partnered with developer Alliance Residential on the project. Appian exceeded estimates in the midst of a global pandemic.
This is the second round trip for TAM investors with Appian Capital and we continue to be encouraged by the results.