TUCSON, AZ (October 7, 2025) — Geronimo Casitas, LLC has purchased the Geronimo Apartments, a 19-unit multifamily community located at 2514 N. Geronimo Avenue in Tucson’s Northeast submarket, for $1,450,000 ($76,315 per unit / $172.15 PSF). The sale was recorded on September 19, 2025.

The seller was The Ramy Muaddi and Cecilia Muaddi Revocable Trust, with the transaction handled through Premier Title Agency. The buyer, an Arizona entity affiliated with EMP Holdings LLC, was represented by Mr. Maximian S. DeMeol, a member.

Built in 1952, the 8,423-square-foot masonry complex occupies 0.83 acres within the Coronado Heights subdivision. The property comprises nine duplexes, each averaging 900 square feet, and one casita of 323 square feet, totaling 19 one-bedroom, one-bath units. Amenities include laundry facilities, storage space, and a walled and fenced lot.

Allan Mendelsberg and Joey Martinez, Principals and multifamily specialists with Cushman & Wakefield | PICOR in Tucson, represented both the buyer and seller in the transaction.

This investment sale reflects ongoing demand for smaller, value-add apartment communities in central Tucson, where limited supply and rising rents have sustained investor interest in mid-century masonry properties with repositioning potential.

For more information, contact Mendelsberg at 520.546.2721, and  Martinez is at 520.546.2730.

Source: RED Comp #12105

TUCSON, AZ (October 6, 2025) – After nearly a century of continuous family ownership, the historic Arizona Inn has been sold to a Tucson-based investor group that includes NBA coach Steve Kerr. The transaction closed at $21,125,000, equating to approximately $227,153 per room and $240 per square foot.

The 14-acre Spanish Colonial resort at 2200 E. Elm Street was founded in 1930 by Isabella Greenway, Arizona’s first congresswoman, and has been a beloved Midtown landmark ever since. The Inn offers 93 guest rooms, including 89 casita-style suites, across 87,991 square feet of building area, along with extensive grounds and amenities.

In March 2025, JLL’s Hotels & Hospitality Group announced it had been retained to market the property. JLL Senior Director Matt Riley highlighted the Inn’s historical significance and prime location near the University of Arizona, Banner University Medical Center, and downtown Tucson. Offered unencumbered by management or brand agreements, the Inn represented a rare opportunity for new stewardship of a Tucson treasure.

The Inn had remained in the Greenway family for 95 years, most recently under the care of Patty Doarr and Will Conroy. Upon the sale, they stated:

“Our family is grateful that such a strong, knowledgeable and motivated group has come together to carry on and revitalize the traditions of warmth and hospitality at the Arizona Inn. We’re especially heartened by the group’s longtime Tucson ties and sincere affection for the hotel.”

The purchasing group, Arizona Inn Group, LLC, includes Greg and Marla Amado, Steve and Margot Kerr, Phil and Mimi Amos, Kirk Saunders, Ann Peterson, Jim and Kerrin Berwick, and Brian and Shamra Strange. They describe themselves not as owners, but as custodians:

“The Arizona Inn doesn’t need reinvention – it deserves devotion. Our role is to preserve what makes it authentic while enhancing it for generations to come,” said the owners in a published interview recently.

Brian Strange, an experienced boutique hotel owner and operator, will lead renovations and operations through S Hotel Properties.

Ownership has committed to a 24-month capital improvement program, including:

• Refreshed guest rooms preserving Spanish Colonial elegance.
• Reopening of the historic bar as Bar 1933.
• Creation of a new spa in the Greenway House.
• A revitalized pool area with striped cabanas, bar carts, and light fare.
• An updated dining program that maintains beloved classics while introducing contemporary dishes.

For nearly a century, the Arizona Inn has been a setting for weddings, milestones, and civic traditions. Among its most iconic events is the annual Silver & Turquoise Ball. Two new owners, Marla Amado and Mimi Amos, serve on the Ball’s Board of Hostesses, ensuring continuity of this Tucson tradition.

The sale of the Arizona Inn marks one of Tucson’s most notable hospitality transactions of the decade, transferring stewardship of an irreplaceable resort to a group of local investors committed to honoring its legacy while shaping its future.

Source: RED Comp #12126

TUCSON, AZ (October 3, 2025) — HSL Properties has expanded its Tucson multifamily portfolio with the purchase of The Vintage Apartments, a 204-unit community at 8225 E. Speedway Blvd., near Pantano, for $24.45 million, according to public records. The acquisition price reflects $119,852 per unit and $193.64 per square foot on the property’s 126,268 rentable square feet.

The seller was RP WR8255 LLC, an investment entity managed by Core Woodridge JV LLC, tied to Phoenix-based institutional investors. The buyer of record was HSL East Speedway Apartments Delaware LLC, an affiliate of Tucson-based HSL Properties.

Built in 1981, The Vintage’s unit mix of one- and two-bedroom floor plans features a private patio or balcony, window coverings, and extra storage space. Community amenities include a newly renovated swimming pool and spa, laundry facility, package lockers, and a 24-hour fitness center.

The property is situated along Speedway Boulevard, a major east-west corridor, offering residents direct access to the University of Arizona to the west and Saguaro National Park to the east. Additional recreational destinations, such as The Loop, Sabino Canyon, and the Tucson Botanical Gardens, are also nearby. The Williams Center and the Park Place Mall are within proximity.

The transaction was marketed by Marcus & Millichap’s Institutional Property Advisors team in Tucson. Clint Wadlund (520.349.0621) and Hamid Panahi (520.719.6511) are both based in Tucson.

“The Vintage is located in Tucson metro’s east submarket with proximity to numerous employment generators and recreational attractions,” said Clint Wadlund, IPA managing director investments. “Previous ownership enhanced the community’s common areas and established a renovation program positioned for continuation under new ownership,” said Hamid Panahi, IPA senior managing director investments.

Wadlund, Panahi, and IPA’s Steve Gebing and Cliff David represented the seller and procured the buyer.

HSL Properties, headquartered in Tucson, is one of Arizona’s largest privately held apartment owners and operators, with a portfolio spanning thousands of multifamily units across the state.

Source: RED Comp #12094.