TUCSON, Ariz. (September 23, 2025) – Cushman & Wakefield | PICOR announced the sale of Hidden Cove Apartments, a 15-unit multifamily property located in the Central Tucson submarket, for $1,010,000. The transaction reflects a price of $67,333 per unit and $93.49 per square foot.

Hidden Cove Apartments is situated at 3240–3276 North Geronimo Avenue and includes 10,803 square feet of living area on 1.25 acres within the Garden Homes subdivision. Built in 1952, the community comprises two studios, a collection of one-bedroom units, and six two-bedroom apartments. With its frame and stucco construction and central location, the property offers investors a stable, income-producing asset in one of Tucson’s most established neighborhoods.

The property was purchased by 220 Fort Lowell LLC of Newport Beach, California, from longtime owners Ivan Ramirez and family.

Cushman & Wakefield | PICOR principals and multifamily specialists,  Allan Mendelsberg and Joey Martinez represented both the buyer and the seller in the transaction. Mendelsberg noted that the deal demonstrates continued investor interest in well-located, small-scale apartment communities in Central Tucson, where limited supply and steady demand continue to drive competition.

“This transaction highlights continued investor interest in well-located Central Tucson multifamily communities,” said Mendelsberg. “With limited supply of small-scale apartment assets, properties like Hidden Cove remain highly sought after.”

For additional information, please get in touch with Mendelsberg at 520.546.2721 and Martinez at 520.546.2730.

Source: RED Comp #12104

MARANA, AZ (September 19, 2025) – Welltower Inc. (NYSE: WELL), one of the nation’s largest healthcare real estate investment trusts, has acquired Cogir at Continental Ranch, a premier Class A assisted living and memory care community located at 8689 N Silverbell Road in Marana, Arizona. The $22,247,103 ($205,991 per unit) acquisition was completed as part of a portfolio transaction.

Built in 2018, as a Watermark Community, the two-story spans 108 units licensed for 118 beds across 101,782 square feet. The property is situated on 3.99 acres along Silverbell Road and Continental Reserve Loop in one of Marana’s fastest-growing corridors. Residences include studio, one-bedroom, and two-bedroom layouts, complemented by a full suite of amenities such as a commercial kitchen and dining hall, fitness center, salon, theater, landscaped courtyards, and specialized memory care wings.

The seller, Kayne Anderson Real Estate of Boca Raton, Florida, developed the project in partnership with Watermark Senior Living and held the property until this transaction.

The acquisition underscores the continued appeal of Southern Arizona’s senior housing sector to national institutional investors. Strong demographics, reliable cash flow, and stable occupancy trends are driving capital inflows into the region. With Welltower’s acquisition and rebranding as Cogir at Continental Ranch, the community is positioned to serve a rapidly growing senior population while benefiting from the scale and operating expertise of Welltower’s extensive national portfolio.

The buyer was 8689 N Silverbell Rd Propco LLC c/o Welltower Inc. (Toledo, OH) and the seller, Marana Property Owner c/o Kayne Anderson Real Estate (Boca Raton, FL) / Watermark Senior Housing JV OPCO LLC – Kayne Anderson Real Estate

Welltower Inc., a leading healthcare real estate investment trust driving the transformation of healthcare infrastructure. The company invests in seniors housing, post-acute communities, and outpatient medical properties in major, high-growth markets in the U.S., Canada, and the U.K.

Source: RED Comp #12060

TUCSON, AZ (September 16, 2025) — The former Kmart property on Golf Links Road in East Tucson has sold for $5.72 million. Built in 1990, the single-story building totals 89,414 square feet and sits on more than seven acres, offering expansive parking with 411 spaces and two grade-level roll-up doors. The site also includes two additional pads with drive-thrus available for sale or lease.

The transaction closed on August 22, 2025.

At the time of sale, the property was 86 percent occupied with three tenants: ArchWell Health in Suite 100, Platinum Fitness, and Bookman’s Entertainment Exchange. Approximately 12,500 square feet remained vacant, presenting leasing opportunities for the new owner.

The buyer, Bob Speedway LLC, is a Tucson-based investment group. The seller, Leyenda en Tiempo LLC of Albuquerque, had held the property since the late 2000s. Greg Furrier and Natalie Furrier of Cushman & Wakefield | PICOR represented the seller, while the buyer, Bob Zhang, represented himself. The Furriers will continue to lease the property on behalf of the new owner.

This sale reflects a broader trend across Tucson, where older big-box retail sites are being repositioned into multi-tenant centers, medical offices, or storage facilities, underscoring investor confidence in repurposing large-format retail for modern uses.

For more information,  Natalie Furrier can be reached at (520) 955-7663, and Greg Furrier is at (520) 546.2735. Bob Zhang can also be reached at (520) 977.4676.

Source: RED Comp #12062