TAM invested in deal with Appian Capital, which closed on its Tempe deal in September
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.