TUCSON, Arizona – Capistrano Apartments at 2929 E 6^th Street in Tucson sold for $8.6 million ($76,786 per unit) to Daybreak 112 Partners, LLC and CAP 112 Partners, LLC c/o Scotia Group Management of Tucson (Rob Aronoff, CEO) that will handle the management of property.

The 112-units are mostly studios and 1-bedrooms with an average unit size of 561-square-feet. Built in 1974, the property sits on 3.26 acres at 6^th Street and Country Club Road, about one mile from the University of Arizona. The property was 96% occupied when it sold.

Apartment features include air conditioning, paid utilities, balcony on 2nd floor, breakfast bar, cable ready, ceiling fan, dishwasher, gas stove, hardwood floors, pantry, refrigerator and views.

Community amenities include access to public transportation, beautiful landscaping, copy & fax services, disability access, easy access to freeways, easy access to shopping, free pet treats, guest parking, laundry facility, on-call maintenance, pet waste stations, picnic area with barbecues, and swimming pool.

The seller Pimatuc Realty Associates, LP of Phoenix was represented by the Tyler Anderson and Sean Cunningham team of CBRE Multifamily Institutional Properties in Phoenix and Senior Vice President, Michael Sandahl and Martin Encinas with CBRE in Tucson.

For more information, Encinas can be called at 520.323.5173 and Sandahl should be reached at 520.323.5115.

To learn more, see RED Comp #4828.

College Town Student Housing at 2040 North First Avenue in Tucson sold to Phoenix investment group, Taylor Fitzpatrick Capital (Ted Taylor, member) for $8.32 million ($94,545 per unit). The investor’s plan for the 88-units, value-add property in four buildings, is to completely renovate both interior and exterior.

The property, built in 1972, is ready for updating. Amenities include furnished apartments, electricity, parking, wireless internet, water, and Direct TV, 2 pools, laundry facilities in each building, two study rooms, a fitness center, spa and game room.

Unit mix consists of 2-, 3- and 4-bedrooms. Property was 80% occupied at time of sale.

The seller was MCS711 Arizona Commons, LLC an affiliate of Mica Creek Sagamore Partners of Denver, CO.

The buyer is an experienced student housing investor having built new and remodeled projects at ASU in Phoenix and CSU in Fort Collins, CO. This is the buyer’s first project in Tucson and says they like Tucson and are looking for more opportunities such as this.

There were no brokers involved in the sale. To learn more, see RED Comp #4833.

PHOENIX, Arizona  – Located at the heavily trafficked intersection of Thomas Road and 75th Avenue, Desert Sky Festival Pad Shops sold within the center for a combined price of $6.68 million ($336/SF). One pad is leased to Chipotle and Skechers and the other is leased to Chase Bank, Metro PCS, Jamba Juice, Liberty Tax and Tortas La Presa. Ari Spiro, Sean Stutzman, and Judi Butterworth of ORION Investment Real Estate represented the Seller, in cooperation with Paul Serafin of De Rito Partners. Sperry Van Ness-Rich Investment Real Estate Partners, out of Los Angeles, represented the Buyer.

Judi Butterworth and Paul Serafin have been involved with the property for years. “In the nine years I’ve been working on the property, the entire intersection has transformed to a fully-leased, vibrant retail environment,” said Butterworth.

The Seller was 7427 W. Thomas Road, LLC and 2837 N. 75th Avenue, LLC based out of Phoenix, Arizona. The Buyer was Apache 4 Investments, LLC based out of Tarzana, CA. Both pads were fully leased at close of escrow.

TUCSON, Arizona — Banner – University Medical Center South, 2800 E. Ajo Way in Tucson was recognized for its top performance among Banner Health hospitals with a 2017 Best of the Best Award at Banner Health’s annual conference for its leaders May 18 in Phoenix.

Banner – UMC South, a 245-bed acute-care hospital operated by Banner Health under a management contract with Pima County, won the company’s Best of the Best Award for mid-sized hospitals for high performance in customer service, operations, learning and finances.

Non-profit Banner Health, with 28 hospitals in six states, took over the management of the Pima County-owned Banner – UMC South two years ago.

“Congratulations to Banner and all of the hard-working doctors, nurses and staff at Banner – UMC South,” said Pima County Administrator Chuck Huckelberry. “This award is further proof that the county’s partnership with a private health-care provider has been an enormous success. We are proud to be partners with Banner and proud of the exceptional care they are providing to residents of Pima County.”

The Banner – University Medical Group Alvernon Physician Office, 707 N. Alvernon Way, also received a Best of the Best Award for top performance among hundreds of Banner clinics. The multi-specialty Alvernon clinic provides outpatient care in orthopaedic surgery, family medicine, neurology, ophthalmology and physical therapy. It also is home to a refugee clinic staffed by the University of Arizona Department of Family and Community Medicine.

“It is significant to note that Banner – UMC South and the Alvernon clinic, which have only been part of the Banner system for two years, are being recognized for providing a high level of clinical excellence, patient experience and financial performance.  It is remarkable to achieve Best of the Best status in such a short period of time,” said Tom Dickson, CEO for Banner Health’s two Tucson hospitals and dozens of clinics.