TUCSON, Arizona (September 10, 2025) – Oracle Ventures, LP, c/o Richard Sacks of La Jolla, CA, has purchased the 196-unit Casa Estrella del Norte apartment community at 1601 N Oracle Road at Oracle Rd & Drachman St in Tucson with undisclosed terms. The seller was Jefferson Capital Property Holdings, LLC, c/o Bryan Krizek of Lorton, Virginia. The sale closed September 2, 2025.

The property, originally built in 1959, spans approximately 7.4 acres and is comprised entirely of studio and one-bedroom units averaging 378 square feet. All 196 units were delivered vacant at closing, positioning the buyer for a full restoration and repositioning program.

At the purchase price, the deal reflects approximately $34,184 per unit, or just over $905,000 per acre.

Institutional Property Advisors (a division of Marcus & Millichap) brokered the transaction. The IPA team of Hamid Panahi, Clint Wadlund, Steve Gebing, and Cliff David represented the seller and also procured the buyer.

Known historically as Estrella del Norte, the community has operated under several different uses in past decades, including student housing and transitional housing. Its prominent location along Oracle Road places it within close proximity to downtown Tucson and the University of Arizona.

For more information, Panahi and Wadlund can be reached at (520) 202-2900.

See RED Comp #12083 for more details.

TUCSON, Ariz. (September 10, 2025) — An affiliate of Larsen Baker, in partnership with Repp Mclain and Ambrell Capital, has purchased the former Chase Bank branch located at 2465 N. Campbell Avenue—the 6,200-square-foot building sold for $2,400,000 ($387 PSF).

Isaac Figueroa, CCIM, SIOR, of Larsen Baker represented the buyer in the transaction. The partnership is considering a range of possibilities for the property, including adaptively reusing the existing structure or pursuing redevelopment.

“This site is a rare find not only because it has nearly an acre of land on Campbell, but the mid-century building is also very attractive, adaptable to a lot of different uses,” said Melissa Lal, CCIM, CEO of Larsen Baker.

Lal and Figueroa can be reached at (520) 296-0200 for further information.

TUCSON, Ariz. (September 9, 2025) – The 208-unit Casa Del Coronado apartment community in Tucson has sold to Ascendant Capital Partners, a Los Angeles–based real estate investment and operating firm, for $17.7 million as part of a portfolio sale. The seller was Ready Capital C of New York.

The sale closed on August 19, 2025.

The Casa Del Coronado complex, located at 201 & 251 W. Blacklidge Drive, was built in 1972 and features a mix of 160 one-bedroom/one-bath units (485 square feet each) and 48 two-bedroom/one-bath units (750 square feet each), along with studio layouts. The property has a weighted average unit size of 531 square feet and totals approximately 110,240 square feet.

Community amenities include two swimming pools and two spas, a gated entrance with covered parking available, a playground, basketball court, soccer field, laundry facilities, and a picnic area.

Based on the recorded sale price, the acquisition reflects a value of approximately $85,100 per unit and $161 per square foot.

The property is situated near Oracle Road and Fort Lowell, providing convenient access to the University of Arizona, Banner University Medical Center, and major retail corridors in central Tucson.

With this latest acquisition, Ascendant Capital Partners adds to its national portfolio of residential communities, while Ready Capital continues its focus on real estate finance and lending.

Source: RED Comp #12058