TEMPE, Ariz., March 12, 2024 /PRNewswire/ -- Aptitude Development, a national leader in student housing development, today announced the groundbreaking of The Marshall Tempe, a 485-bed, purpose-built student housing community serving Arizona State University (ASU). Located just steps from ASU's Tempe campus at 1125 E. Apache Blvd., The Marshall Tempe will offer a variety of floor plans, including studios, one-, two-, three-, four-, and five-bedroom apartments. The project is slated for completion in August 2025, just in time for the 2025-2026 academic year. The Marshall Tempe will feature best-in-class amenities, including a resort-style pool and spa, state-of-the-art fitness center, rooftop lounge, and collaborative study spaces. Residents will also enjoy convenient access to campus, as well as a variety of nearby restaurants, shops, and entertainment venues. "We are thrilled to break ground on The Marshall Tempe and bring much-needed student housing to ASU," said Jared Hutter, Co-Founder and Principal of Aptitude Development. "This project represents our commitment to providing high-quality, off-campus housing options that cater to the unique needs of today's students. We look forward to welcoming residents in Fall 2025." The Marshall Tempe is being developed in partnership with equity partner Pennybacker Capital and will be managed by Campus Advantage, a leader in student housing management. About Aptitude Development Aptitude Development is a vertically integrated real estate development company focused on developing best-in-class student housing communities across the United States. With a deep understanding of student needs and preferences, Aptitude Development creates dynamic living environments that foster academic success and personal growth. The company has a proven track record of delivering high-quality projects on time and within budget. About Pennybacker Capital Pennybacker Capital is an Austin-based real estate private equity firm that invests in real estate and real estate-related opportunities. Pennybacker pursues value creation through collaborative partnerships with high-quality operating partners. About Campus Advantage Campus Advantage® is a real estate investment management firm that specializes in student housing. The company's mission is to serve students and their families by creating successful living environments. Campus Advantage manages a national portfolio of student housing properties and has been recognized as a top student housing operator by Student Housing Business magazine.