TUCSON, AZ (Jan. 7, 2026) — Casa Del Coronado Apartments, a 208-unit multifamily community at 201 W. Blacklidge Drive in Tucson’s Central submarket, sold on Dec. 23, 2025, for $16 million ($76,923 per unit).
Built in 1982-1983, the 12-building, two-story property totals 110,432 square feet on 6.61 acres, with a sale price of $144.89 per square foot. The community is described as frame-and-stucco construction in average condition and offers a mix of studio, one- and two-bedroom units. Amenities include two pools and spas, two basketball courts, covered parking, controlled access, and outdoor features such as a pet play area and picnic area.
The seller was AI NPL REO 16 LLC (c/o AI NPL Investors LLC) an affiliate of Ascendant Capital Partners of Dallas, TX. The buyer was San Miguel Town LLC (c/o Hanapat Management) based in Tucson.
The seller acquired the property in August 2025 for $17,726,319 as part of a portfolio sale.
"This transaction was completed as an REO sale requiring a disciplined execution strategy, market expertise, and close coordination between all parties to achieve a successful outcome," accoding to Trevor Koskovich, President of Northmarq. "Despite market headwinds, the asset generated strong investor interest due to its scale, location, and long-term repositioning potential."
The property was listed by Northmarq Multifamily, with Jesse Hudson, the lead contact (602.952.4042). Marcus & Millichap (Tucson) / Institutional Properties Advisors' (IPA) Hamid Panahi (520.719.6511) and Clint Wadlund (520.349.0621) represented the buyer.
Source: RED Comp #12275.