AION Sells Tesoro Apartments in Phoenix, AZ

AION Partners is happy to announce the sale of the Tesoro Apartments, a 150 unit multifamily complex in Phoenix, AZ.  AION acquired the asset in 2010 as part of a distressed pool of mortgages owned by Northstar Financial.  Through years of asset management and reinvestment in the property, AION was able to execute a successful transaction beneficial to our equity investors.  This is AION’s fifth multifamily property sale of seven distressed multifamily properties acquired in 2009-2010.