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6/25/25
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Kennedy Wilson has acquired Finisterra, a 356-unit, two-story multifamily community located in Tempe, AZ. The price was not immediately disclosed.
Located at 1250 West Grove Pkwy, Finisterra was built in 1997. It features two pool and spa areas with gazebos and barbecue grills, a 24/7 fitness center, resident clubhouse and leasing center, outdoor picnic areas with grills and fire features and a dog park. Upgraded unit interiors include quartz countertops, stainless steel appliances, wood-style plank flooring and custom cabinetry.
CBRE's Asher Gunter, Matt Pesch, Austin Groen and Sean Cunningham represented the seller in the deal. Troy Tegeler of CBRE Debt & Structured Finance arranged financing. Phoenix posted the second-highest absorption of all U.S. markets in the first quarter, with approximately 7,500 units absorbed, according to data analyzed by CBRE.
“South Tempe is a dynamic submarket with excellent demand drivers and strong underlying multifamily fundamentals,” said Groen. “Finisterra is located within walking distance of more than 1 msf of retail, including Costco, and the Downtown Tempe employment hub is a 15-minute drive from the community, making South Tempe a very desirable area to live.”
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