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High Sierra Theatres of Santa Fe, NM (Thomas Becker and Nick Sanchez, Partners) purchased the Desert Sky Cinema at 70 W   Duval Mine Road in Sahuarita, AZ for slightly under[mepr-show rules=”58038″]$1.4 million ($74 PSF). The 18,166 sq. ft. building with six-screens has all digital projectors and three 3-D theatres with a total 750 seating capacity.

Storyteller Theatres Corp. a wholly-owned subsidiary of Marwit Capital of Newport Beach, CA was the seller. Sanchez and Becker were both members of the Storyteller management team in New Mexico, Becker as Senior Vice-President and Sanchez as Director of Operations. Sanchez in this capacity was involved in the construction of the Sahuarita theatre in 2000. Both partners have extensive experience in the motion picture exhibition industry, with over 65 years combined experience.

Marwit Capital had been divesting of the Storyteller assets for several years and one day Sanchez and Becker decided to make inquiries on the Desert Sky Cinema for themselves. “It was their first choice,” according to Becker, “because Nick had helped build it, and because we both love the area and think one day of retiring there.” The local management and employees have all stayed on-board in the transition.

The purchase of Desert Sky Cinema is the first theatre in the company’s portfolio, as they continue to look for others in Arizona and the Southwest. High Sierra Theatres is an owner / operator / management company and plan to run the theater as much as possible as a community theater.

Becker explains, “In addition to the Hollywood box office films, we plan to bring back an ‘Encore Presentation of Metropolitan Opera’, and are working on a 42-week classic film festival to include Hitchcock, Welles and other classic films best viewed on the large screen. Although we haven’t reserved all the film names yet in the series, I can say, ‘Casablanca’ with Humphry Bogart and Ingrid Bergman will be in the lineup.”

The new owners encourage feedback from the community to bring as much alternative films as possible to the region and will also do private theater events with seating for 100 – 200 people. The theatre is also satellite equipped for additional special events.

Becker can be reached at (203) 943-1146 and Desert Sky Cinema should be contacted at (520) 393-1212.[/mepr-show]

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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]