TUCSON, Arizona — Scottsdale-based MC Companies (Ross McCallister, principal), a real estate investment, management, development and construction company sold 319-units at Rock Ridge Apartments at 10333 N Oracle Road in Oro Valley to a private investment group from Newport Beach, CA, Springwood Investors, LLC; its first investment in Tucson.

The property commanded a sale price of $39.5 million ($123,824 per unit). This is the second highest sale price for a multifamily property in the Tucson region this year.

The acquisition the buyer with a solid investment opportunity. Seller had made enhancements since buying it with increased rents. The property was 96% occupied when it sold.

The property consists of one-, two- and three-bedroom units. The 226,880-square-feet (built 1995) is in 26 buildings on 17.77 acres adjoining Oro Valley Country Club Golf Course.

Unit amenities include air conditioning, alarm, balconies, cable ready, ceiling fan(s), dishwasher, wood burning fireplace, intrusion alarm, microwave, oversized closets, mountain / golf course views, washer & dryer in unit, garbage disposal, and refrigerator.

Community amenities include business center, clubhouse, covered parking, a dog park, emergency maintenance, extra storage, fitness center, garage, green community, high speed internet access, hot tub, playground, public transportation, two swimming pools, trails (bike, hike & jog), corporate suites, pet friendly. Special features include disability access, furnished units available, short term available,

Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE’s Phoenix office in cooperation with Mike Sandahl in CBRE’s Tucson office handled the transaction on behalf of the buyer and seller.

For additional information, the CBRE Tucson office can be called at 520.790.8100 and the CBRE Team in Phoenix can be contacted at 602.735.5555.

To learn more, see RED Comp #6311.

New homes will be the builder’s first in the award-winning master plan

TUCSON, Arizona – Rancho Sahuarita has announced that the first homes in its newest neighborhood of Entrada Del Rio will be built by award-winning builder, Lennar Homes.

The builder will make its official debut in the community, with plans to roll out a brand new series of plans for prospective homebuyers in the market.

The first 82 SFR lots transferred to Lennar for $4.62 million ($56,341 per lot) in Entrada Del Rio. Rancho Sahuarita has stopped here and continues to finish an additional 158 SFR lots to the north of this with 45’x110 and 50’x 120’ fully improved lots. Other homebuilders are of course showing an interest in the product. Rancho Sahuarita is an award-winning master planned community in Sahuarita, Arizona, with a highly amenitized lifestyle for the community’s 18,000 residents.

The community is also home to the Rancho Sahuarita Marketplace and the Sahuarita Town Center, both of which include commercial spaces available for leasing or sale. The Marketplace currently features a variety of retail, medical, restaurant, and other service providers. A full municipal complex, educational facilities, a fire station, and multiple churches can be found in the Sahuarita Town Center.

Tucson Division President for Lennar, Tom Gansheimer, commented on the exciting announcement saying: “Lennar has had a presence in Tucson for more than 40 years, but this will be our first community in Rancho Sahuarita. We are extremely excited to join the family!”

Entrada Del Rio will eventually be comprised of nearly 558 new home lots, to be opened in various phases featuring various builders. Lennar’s new home offerings will feature a highly versatile plan grouping, with square footages ranging from 1668- up to 2897-square-feet. The floorplans feature garages with extra storage spaces standard, which can also be converted to an additional bedroom or office if desired.

Lennar’s homes in Entrada Del Rio will also feature one of the company’s Next Gen® – The Home Within A Home® plans, with a brand new layout that will make its inaugural debut at Entrada Del Rio. Gansheimer also shared that the homes will feature the builder’s EI-Everything’s Included® program; with features such as Home Automation including their Wi-Fi CERTIFIED™ home designs, granite kitchen countertops with a standard under mount sink, standard refrigerator, and window coverings.

Additional information and specifics about the new floor plans and included features will become available in the coming months.

Jeremy Sharpe, Vice President for Rancho Sahuarita, also commented on the launch of the new neighborhood, saying, “We are thrilled to welcome Lennar as a brand new homebuilder to our community, and excited to open Entrada Del Rio with a fresh offering for buyers. Families who choose Entrada Del Rio will love its ease of access in and out of the community, close proximity to the Rancho Sahuarita Marketplace and the Parque Del Rio neighborhood amenity, and its location nearby other amenities and schools.”

To get updates about Entrada Del Rio and to sign up for the neighborhood interest list, please visit www.RanchoSahuarita.com/DelRio. Additional information about other builders will also be released in the coming months, and those who join the interest list can be among the first to get those updates.

To learn more, see RED Comp #6332.

TUCSON, ARIZONA – Country Inn & Suites at Tucson Airport sold for $5.15 million ($62,048 per room) to Progressive Hospitality, LLC of Mukiltee, Washington. Located at 6681 South Tucson Blvd. in Tucson, the 26,604-square-foot hotel on 2.21 acres was built in 2000 with 83-rooms.

All rooms include: free, hot breakfast, free Wi-Fi, flat-screen cable TV with HBO, pet friendly, work desk with lamp, microwave, refrigerator, coffee/tea facilities, free weekday USA TODAY^® Newspaper, hair dryer in room, iron & ironing board, complimentary local calls and long-distance access, voicemail, alarm clock/radio, cribs available, rollaway beds available (Standard King Rooms only), and  children 18 and under stay free in same room as an adult.

Standard Rooms includes a choice of one king or two queen size beds and standard amenities like free Wi-Fi and a flat-screen TV with HBO.

One-bedroom Suites enjoy the privacy of a separate bedroom with King Bed and flat-screen TV and a telephone. The living area includes a sleeper sofa, a second flat-screen TV and a second

Premium One-bedroom Suite includes a living area with a wet bar, a flat-screen TV, a phone and a sleeper sofa. The private bedroom offers an additional TV and phone.

Ryan Sarbinoff with Marcus & Millichap in Phoenix and Aseem Tandon with Marcus & Millichap in Ontario, California handled the transaction for the seller, The Sethi Family Trust.

Sarbinoff told us the property was in excellent condition and closed with its highest occupancy ever.

For more information, Sarbinoff can be reached at 602.687.6750 of Tandon at 909.456.7016.

To learn more, see RED Comp #6275.