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An investment group formed by Hamilton Zanze & Company (Mark Hamilton, President) of San Francisco, CA acquired Oracle Village Apartments at 5903 – 5929 N Oracle   Road in OroValley for [mepr-show rules=”58038″]$9 million ($62,500 per unit) from locally-based HSL Properties (Omar Mireles, Officer). The 144-unit apartment community in 133, 272 sq. ft. on 8.8 acres is rated as a Class-B community, but the new investor purchased with the goal of renovating into a Class-A complex.

HSL Properties purchased the property in 2002 for $5.7 million with deferred maintenance and upside potential.

The community offers one-, two- and three-bedroom floor plans ranging in size from 694 – 1,098 sq. ft. with air conditioning, dishwasher, washer / dryer, sundecks and high speed internet available. Community amenities include a courtyard featuring a basketball and volleyball court, clubhouse with business center, pool and spa, with lush landscaping, manicured lawns and on-site management and maintenance. Located in the Northwest area, Oracle Village is close to shopping, dining and entertainment at the nearby CasaAdobesShopping Center, Foothills Mall or Tucson Mall. Residents also receive discounted rates at a nearby fitness club.

Hamilton Zanze has been investing in multi-unit residential real estate through investor groups since 1985, consistently producing growth, cash flow, and tax benefits. They are devoted to this asset class and versed in its nuances and idiosyncrasies. With experience, diligence, and commitment, investments are pushed through major improvements, active problem solving, insistent management, opportunistic financing, and a vigilant eye on the unfailing whims of the marketplace.

Hamilton Zanze focuses on apartments because they are convinced there is no better investment. Simply put by the company, “we buy real estate worth buying. For us, those properties are apartments with upside. That said, we invest for ourselves, individuals, families, trusts, funds and publicly traded companies with a focus on producing growth, cash flow, and tax benefits.”  Investment objectives are always framed with risk/reward foremost in mind.

The company owns 75 properties in 16 markets within eight states: Washington, Colorado, New Mexico, Oregon, Nevada, Texas, Utah and Arizona. This is the seventh multifamily investment for Hamilton Zanze in the Tucson area totaling 1,518 units.

Art Wadlund of Hendricks-Bercadia in Tucson handled the transaction.

Hamilton can be reached at (415) 561-6800 ext 101. Mireles should be contacted at (520) 322-6994. Wadlund is at (520) 299-7200.[/mepr-show]

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June 5, 2013, two sand and gravel quarries, one in Pima County northwest of Harrison and Irvington in Tucson and the other in Pinal County at Florence-Coolidge Hwy (Hwy 287) and Nafziger Road in Coolidge, AZ an aggregate of 199 acres, sold for[mepr-show rules=”58038″]$1 million ($.12 PSF), or 8,674,103 sq. ft.

Both were actively being mined for sand and gravel at time of sale, but demand for the product has been slow since the recession and many sand and gravel pits have closed in the state.

The seller was ANB Sonora, LLC of Idaho Falls, ID an affiliate of Kingston Agronomy of Idaho. The buyer was SST Properties, LLC of Holladay, UT (Todd Timmons, managing member).

There was a private lender involved in the sale by the name of Blackwell for a loan amount of $958,313.

No other information was available.

Kingston Agronomy, the seller can be reached at (208) 522-2365.[/mepr-show]

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The Girl Scouts of Southern Arizona (Debbie Rich, CEO) purchased the former Broadway Diner at 4330 E Broadway Blvd in Tucson for a new regional headquarters campus. The Girl Scouts already owned the adjacent property at 4300 E Broadway and  the vacant diner property had been vacant for several years.

The Girls Scouts of Southern Arizona (GSSoAz) paid[mepr-show rules=”58038″]$500,000 for the 4,000 sq. ft. building on 33,750 sq. ft lot for land value and plan to raze the former diner for construction of a new regional headquarters campus.

GSSoAz is a non-profit organization serving more than 14,000 girls ages 5-17. Membership also includes over 3,000 adult volunteers who serve as leaders, trainers, consultants, and board members. GSSoAz covers the southern region of the state, serving girls in Pima, Cochise, Greenlee, Yuma, Santa Cruz and southern parts of Graham, Maricopa, and Pinal counties. In addition, Girl Scouts also serves our Native American communities, military installations, and border communities in Southern Arizona.

GSSoAZ is chartered by Girl Scouts of the USA. The Council was established in Arizona in 1935.

David Montijo, First Vice President of CBRE in Tucson and Paul Schloss, formerly with CBRE and now with Bourn Advisory Services, represented the Girl Scouts providing strategic site selection services to its Site Development Team. The seller, Tucson Dynamo Restaurants, Inc of Scottsdale was represented by Rick Borane and Terry Dahlstrom, Senior Associates with Volk Company in Tucson.

The Girl Scouts of Southern Arizona have already launched its capital campaign to fund the development of the new facility, which is anticipated to break ground towards the end of the year.

Rich can be contacted at (520)319.3168. To reach Borane or Dahlstrom call (520) 326-3200. Montijo can be reached at (520) 323-5136 and Schloss is at (520) 323-1005.[/mepr-show]