Summit Equity Investments of Los Angeles purchased Paseo Del Sol Townhomes located at 6280 S. Campbell Ave. in Tucson for $8.4 million ($54,934 per unit, or $50 PSF).

Paseo Del Sol Townhomes is part of a larger property which includes two additional phases, Las Montanas Phase I (aka Rancho Del Mar) and Trinity Place, formerly known as Las Montanas Phase III. Phase I and phase III area owed by a private party who differs from the Seller.

Paseo Del Sol Townhomes is a partially gated community, built in 1994, consisting of 152-units in 38, 2-story, townhome-style buildings. totaling approximately 167,200-square-feet. The property features three- and four- bedroom units in two individual flooor plans averaging 1,100-square-feet.

Unit amenities include air conditioning, dishwashers, disposals, breakfast bars, self-cleaning ovens, private entries, private patios, vertical blinds, full-size washer / dryer connections and outside storage. All units are cable-ready. Additionally, all three-bedroom units feature vaulted ceilings. Wood-plank flooring is available in the majority of the units, with the remaining being completed at the turn.

Community amenities include a swimming pool with a sundeck, dog park, laundry facility and barbecue grills.

The townhomes have been 95% to 100% occupied over the last six months.

The seller was Bayview Loan Servicing LLC of Coral Gables, FL.

Art Wadlund and Clint Wadlund of Berkadia’s Tucson office negotiated the transaction.

To learn more Wadlunds can be reached at 520.529.9206.

The BMO Harris Bank Branch in Oro Valley sold as a portion of a larger 21 property national BMO portfolio recently transacted in a sale-leaseback with Los Angeles based investment firm Corporate Partners Capital Group.

There were a total of six properties included from Arizona, four located in the Phoenix Metro area, and another one in Sedona.

The BMO freestanding PAD branch at 10655 North Oracle Road sold for $2.12 million ($423 PSF) for the 4,985-square-foot building built in 2005 with a 2 lane drive thru and ATM. Located at the southwest corner of Oracle and 1^st Avenue in the Target Center, the branch was formerly a Marshall & Isley Bank until 2011 when BMO Harris acquired M&I Bank. There are three other BMO Harris Bank locations in Tucson.

The four Phoenix locations totaled 17,175-square-feet and sold for $9.3 million ($541 PSF):

• 2839 W Bell Rd, Phoenix, at I-17 & Bell Rd: A 3,951-square-feet freestanding PAD branch is located in a Fry’s Supermarket anchored neighborhood shopping center.
• 9050 N 19th Ave, Phoenix at 19th Ave & Dunlap: A freestanding 4,392-square-feet bank branch with a 3 lane drive thru and ATM.
• 2077 S Priest Dr, Tempe at Priest & Broadway: A Freestanding 4,493-square-feet bank branch with a 2 lane drive thru and ATM.
• 7138 E Thunderbird Rd, Scottsdale at Scottsdale & Thunderbird: A freestanding 4,339-square-feet branch location with a 3 lane drive thru and ATM located in a Smart & Final anchored neighborhood shopping center near Scottsdale Municipal Airport.

The Sedona BMO Branch is located at 2010 West 89a, Sedona but no additional information was available on the sale

The properties will be leased back with a ten-year primary period that will run through the end of September 2024, then have eight successive five-year options to renew.

Corporate Partners Capital Group specializes in single tenant, net leased commercial real estate.

The 31 property portfolio sale was brokered by Chicago based Jones, Lang and LaSalle that can be reached at (312) 782-5800.

Vizzda News contributed to the details of the Phoenix properties, to read more click here.

Phoenix, Ariz. – CBRE has completed the sale of the Tanque Verde Apartment complex, 428-unit multifamily community located at 7671 E. Tanque Verde Road in Tucson, Ariz. The multifamily asset sold for $21.3 million ($49,766 per unit). The property was 94 percent leased at time of sale.

Michael Sandahl and Wyatt Campbell with CBRE’s Tucson office, along with Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office, represented the seller, Holualoa Companies of Tucson. The buyer was North Salt Lake, Utah-based Chartwell Capital Partners, LLC.

“Tanque Verde has recently undergone significant capital improvements worth more than $5 million, including a complete re-roofing, master heating and cooling system replacements, and solar systems and water conversation measures designed to make the property as energy efficient as possible,” said CBRE’s Sandahl. “What’s more, a portion of the units have been upgraded with premium finishes. The property offers an exceptional value-add opportunity to increase revenue by continuing the existing and proven interior upgrade program.”

The Tanque Verde apartment complex was developed in two phases, in 1979 and 1981. Thirty-eight units have been upgraded with new appliances, new cabinets, resurfaced countertops, upgraded fixtures, flooring, mirrored closet doors, microwave oven/hoods, and other improvements. Situated in northeast Tucson, the community benefits from the surrounding strong employment base, class A developments and premier housing options offering residents first-class amenities in a highly desirable location.

Tanque Verde also enjoys proximity to numerous amenities, including grocery, banks, restaurants, and other retail services. Morris K. Udall Park, one of the largest and most popular municipal parks in Tucson, is located across the road from Tanque Verde Apartments, and bike trails and abundant recreation are nearby, including Sabino Canyon and the Mt. Lemmon Recreation Area.

To learn more Sandahl and Campbell should be reached at 520.323.5100. Anderson, Cunningham, Gunter and Pesch can be contacted through the Phoenix office at 602.735.5555.