ABI Multifamily Brokers $21.8M, 248-unit Apartment Community in Tucson

Tucson, Ariz. – ABI Multifamily has announced the $21,800,000 / $87,903 Per Unit / $106.38 Per SF sale of Mission Antigua Apartments in Tucson, Ariz.

Mission Antigua is a 248-unit garden-style apartment community located near South Mission and West Irvington roads.

Built in 1989, Mission Antigua offers a desirable mix of one-, two- and three-bedroom configurations with impressive brick architecture, a plethora of amenities and convenient access to several area parks, recreation facilities and major transportation corridors.

“Mission Antigua was an outstanding value for both parties in this transaction,” said ABI Multifamily Senior Managing Partner Alon Shnitzer, lead broker for the team representing the Buyer and Seller. “Over 30 years of ownership the Seller really built a highly desirable property, which the Buyer — Element Property Company — can nicely improve upon to realize a significant long-term benefit.”

Element Property Company is a California-based multifamily operator with assets throughout the western US. “We look forward to implementing our interior renovation program throughout another quality asset in our growing Arizona portfolio,” said Will Roos, Element’s founder.

The Arizona-based Seller was the original developer of the property, which was managed by Centurion Management Company.

The Buyer and Seller were both represented by the multifamily brokerage team of Alon Shnitzer, Ryan Kippes, John Kobierowski, Rue Bax, Eddie Chang and Doug Lazovick.

To learn more, see RED Comp #6662.