Azara Tempe Apartments

We are excited to introduce Azara Tempe, a rare opportunity to acquire a 98% occupied, cash-flowing multifamily asset perfectly located in the premier North Tempe submarket of Phoenix, Arizona.

Formerly known as "Tamarak Apartments", this 56-unit community combines an irreplaceable location just 2 miles from ASU and 5 minutes from Downtown Tempe with operational upside, attractive financing and a conservative business plan to create a highly compelling investment opportunity.

Investment Highlights:

• Irreplaceable Location – Walk or bike to ASU, Tempe Town Lake, Tempe Marketplace, and light rail.

• Deep Discount – $186K/unit purchase price, 38% below a 2022 comp across the street.

• Low Execution Risk – Strong in-place occupancy, well-maintained condition, and modest $11.5K/unit CapEx.

• Multiple Upside Levers – Professional marketing, RUBS optimization, ancillary income (Wi-Fi, parking, pet fees), and a bonus ~1,000 SF unit not on rent roll.

• Conservative Underwriting – 0% Year 1 rent growth, 11% economic vacancy assumption, 2.9% average rent growth over 5 years.

• Favorable Financing – 66% LTV, 5.5% fixed rate, 24 months interest-only, agency debt.

Stabilized, Cashflowing Multifamily | Downtown Tempe, 3 Min from ASU

• Asym Capital formed Asym Communities, a multi-family owner-operator exclusively focused on acquiring well-positioned, value-add, multifamily assets within the Phoenix MSA

• Both Principals of Asym Communities, Hunter Thompson and Tyler Lyons, relocated to Phoenix to pursue this initiative

• Acquired 259 units across the Phoenix Valley, totaling $52 million of assets under management.

Our Operational Partner

Property Highlights:

The property has been owned and self-managed by a family for more than 35 years, a very rare find in a market where most comparable assets have changed hands multiple times over the last decade.

Structurally, it has been exceptionally well-maintained, with no major deferred maintenance, allowing us to focus on operational improvements rather than disruptive and costly Capex.

Highlights Include:

• Large, functional floor plans – Avg. 854 SF for two-bedrooms, 650 SF for one-bedrooms 100% in-unit washers and dryers

• Pitched shingle roofs – Lower maintenance and longer lifespan than flat roofs

• Private outdoor space for all units – Fenced patios or full backyards

• Well-maintained condition – Minimal deferred maintenance

• Community amenities – Swimming pool, dog park, BBQ/picnic area, bulk Wi-Fi

• Bonus unit discovered during due diligence – ~1,000 SF two-bedroom (formerly three-bedroom) with fenced backyard, not included in underwriting

Location Overview – Premier North Tempe Submarket

Azara Tempe is positioned in one of the most desirable and resilient submarkets in the Phoenix MSA — North Tempe. The property offers unmatched access to the area’s most powerful demand drivers and a vibrant mix of employment, education, lifestyle, and transportation amenities.

• 1.3 miles to Arizona State University – nearly 75,000 students, plus faculty and staff, fueling year-round rental demand

• 2 miles to Downtown Tempe & Tempe Town Lake – a hub for corporate campuses, outdoor recreation, and cultural events

• 1.5 miles to Tempe Marketplace – 17M annual visitors, anchored by top national brands, dining, and entertainment

• Less than 1/2 Mile from Light Rail Station – direct connectivity to Phoenix, Sky Harbor Airport, and Mesa

• Prime Street Frontage – visibility to 34,000+ vehicles daily

• Surrounded by ±897,000 jobs within a 20-mile radius.

Why Tempe, AZ?

Tempe’s central location and economic diversity make it a long-term winner for multifamily investment:

• High renter concentration: 77% renter households within a 3-mile radius

• Robust income levels: Median household income of $57K supports strong affordability vs. in-place rents (~$1,373 avg.)

• Employment magnet: Home to Fortune 1000 HQs (Carvana, GoDaddy, First Solar) and major offices for State Farm, KPMG, Honeywell — plus Dutch Bros HQ relocation

• Lifestyle magnet: Dynamic blend of outdoor recreation, nightlife, cultural venues, and dining in a walkable urban setting

• Built-out infill market: Limited land availability supports long-term supply constraints and rent stability

Project Timeline:

• Subscriptions Deadline: Tuesday, September 19, 2025

• Funding Deadline: Friday, September 22, 2025

• Target Property Closing Date: Tuesday, September 26, 2025

Please note that we have limited availability for this offering and anticipate that it will become oversubscribed prior to the deadline.

This is a 506(c) offering and is appropriate for accredited investors only. If you intend to invest, you will be able to verify your status as an accredited investor within our investor portal.

We don't want you to miss out! If you are interested in investing in Azara Tempe hit the button below and fill out the soft commitment form for us. We will follow up shortly to keep moving the ball forward.

Book a call with Ryan, Shade Tree Capital