Foundation Partners Group Adds to Tucson Footprint

Adair Funeral Home, 1050 N Dodge Blvd., Tucson. AZ

TUCSON, ARIZONA — Foundation Partners Group, a leading provider of innovative funeral and cemetery experiences and products, has purchased the Adair Funeral Homes and Desert Sunset Funeral Homes in Tucson, Arizona for an aggregate amount of $4.72 million.  The acquisition includes three locations in the greater Tucson area and expands Foundation Partners Group’s rooftops in the market to six.

* Desert Sunset Funeral Home, 3081 W Orange Grove Rd, Tucson sold for $778,000.
* Adair Funeral Home, 1050 N Dodge Blvd., Tucson sold for $1.938 million
* Adair Funeral Home, 8090 N Northern Ave., Tucson sold for $2 million.

“Adair Funeral Homes and Desert Sunset Funeral Homes make great additions to our growing portfolio of funeral operations in Tucson,” stated Bob Bukala, President and CEO of Foundation Partners Group. “The Adairs have set a high standard of service for their families and their community that perfectly matches ours. We are very proud to have Martha, Ron, Hank and their team join Foundation Partners and help us grow our presence in Arizona.”

Adair Funeral Home, 8090 N Northern Ave, Tucson, AZ

The Adair Funeral Homes were founded in 1956 by Arthur and Martha Adair.  After Arthur passed away in 1973, Martha along with her sons, Ron and Hank, continued operating the firm.  The second Adair chapel opened in January of 1975 on the northwest side of Tucson, and a few years later, Desert Sunset was added to the company. Over the last 20 years, Hank’s daughter and son, Hillary and Taylor, joined the firm to continue the Adair legacy in the funeral profession.

“When I first met Bob Bukala a while back, I saw we shared the same vision of where the funeral profession is headed,” said Martha Adair, owner of Adair Funeral Homes.  “Now, having learned even more about Foundation Partners Group, I am convinced that they are best positioned to help us continue to address the needs of Tucson’s families in the coming years.”

“Our family sensed a real comfort level with the team at Foundation Partners, especially after we talked with other friends in funeral service who had joined them,” added Ron Adair.  “Foundation Partners Group will let us not only maintain our legacy in the Tucson market but allow us to grow it as well.”

“We continue to explore partnerships with the finest independent funeral homes and cremation centers in our profession,” stated Jason Widing, Vice President of Business Development at Foundation Partners Group. “We are pleased to welcome the teams at Adair and Desert Sunset to the Foundation Partners family.”

For more information, visit the Foundation Partners Group website at www.foundationpartners.com.




Joseph Bernard Investment Real Estate closes on 3 off market listings in Tucson for $2.92 Million

Bryant House,  460 S Bryant Ave., Tucson

TUCSON, ARIZONA – Three Tucson transactions with an aggregate value of $2.92 million and 38-units were sold recently by Joseph Bernand Investment Real Estate in off market transactions.

The Byant House Apartments at 460 S Bryant Avenue in Tucson sold to California-based, Atlas Real Estate, LLC for $1.265 million ($70,278 per unit). Located in the San Clemente neighborhood, Bryant House Apartments comprises 18-units in a two-story red brick complex with a courtyard pool. Security fenced with 6 covered parking spaces and on-site laundry room. Security doors on each unit. New paint, tubs, toilets, counters, appliances, newer carpeting and ceramic tile. The transaction was handled by Joseph Chaplick and Joie Boyle of Joseph Bernand Investment Real Estate represented both buyer and seller in the transaction.

Swan Apartments, 2015 N Swan Rd., Tucson

Swan Apartments at 2015 N Swan Road in Tucson sold to an investor from North Carolina for $940,000 ($117,500 per unit). The property consists of a one-story building with eight two-bedroom / one-bath units, each 700-square-feet, and a laundry room. The transaction was handled by Joseph Chaplick and Joie Boyle of Joseph Bernand Investment Real Estate who represented both buyer and seller in the transaction.

A 12-unit apartment at 3421-3442 E Water Street in Tucson sold to a Florida-based investment group, Damco Arizona Properties for $715,000 ($59,583 per unit).  The 12-units are all two-bedroom / one-bath units, each approximately 800-square-feet with fenced yards. Joseph Chaplick and Joie Boyle of Joseph Bernand Investment Real Estate represented both buyer and seller in the transaction.

For additional imformation, Chaplick and Boyle should be reached at 866.546.9390.

To learn more, see RED Comps # 7373, #7443 and #7445.

 

 




Meritage Homes Ends 2019 at Gladden Farms and Starts 2020 at La Estancia

As Tucson moves to affordability, Meritage Homes is strategically entrenched

MARANA and TUCSON, ARIZONA – Meritage Homes closed on 91 SFR lots at Gladden Farms in Marana near the end of 2019 for $4.1 million, $44,800 per finished lot. All lots are 40 x 120.

Gladden Farms is a 1,350-acre master planned community in northern Marana, just west of Interstate 10 between Tangerine and Moore Roads. With four homebuilders active in the community, it is one of the most active communities in the Northwest submarket.

Meritage bought its first block lots at Gladden Farms in December 2015.

Will White and John Carroll of Land Advisors Organization in Tucson handled the transaction and have the marketing assignment on all of Gladden Farms by the developer, Crown West.

“Meritage has been very strategic in entrenching themselves in Tucson’s top projects and in this lot size segment,” said White. “They are currently in position to have a strong and efficient ‘conveyor belt’ of lots if they choose. In a market that is experiencing a historic shortage of developable lots, it’s a nice spot to be in.”

Since the beginning of the year, Meritage Homes has also closed on 41 SFR lots at La Estancia in the eastern Tucson market for $2 million, of $49,000 per finished lot. The 41 lots were 40 x 115.

La Estancia is a 565-acre residential community located along the I-10 corridor between Wilmot Road and Kolb Road, and offers residents access to the nearby Julian Wash trail system.

Will White and John Carroll of Land Advisors Organization in Tucson handled the transaction for buyer and developer, Sunbelt Holdings.

“Tucson has been moving to affordability for the past 3 years,” White said. Lot offerings of 40′-50′ feet are not on the market long (if they make it to the market at all) and the pace and pricing power is helping to underwrite these deals quickly and easily. It is proving to be a very successful and sought-after lot size/ home size. The situation we have in Tucson is that several builders are searching for these positions and there are only so many of them to go around. If these lot size opportunities are presented, it would be a good move to pick them up swiftly.”

For additional information, White and Carroll can be reached at 520.514.7454.

To learn more, see RED Comp #7408 and #7508.