It is situated on a square beyond the Herakles gate, and was built during the 1st century AD., during the reign of Augustus, by the Memmius family. Partical restoration has been carried out with surviving fragments. According to an inscription.
The monument was erected by Memmius, one of the descendants of the dictator Sulla. During the 4th century A.D. a large fountain was built onto the north-west facade.