TUCSON, AZ (December 19, 2024) — M&A Building Ventures of Tucson (Andre Spindler, manager) has acquired the 14,116-square-foot multi-tenant office building located at 3530 N Camp Abierto for $2.9 million ($205 PSF). This strategic purchase further strengthens M&A Building Ventures’ growing portfolio and underscores its commitment to expanding its presence in key real estate markets.

The property, situated on 1.53 acres in a prime location in the Northeast Tucson submarket between Skyline and Sunrise Drives in the Catalina Foothills, offers significant potential for value appreciation. M&A Building Ventures intends to leverage its expertise to enhance the property’s value through potential improvements and development opportunities that align with its long-term growth strategy.

Dave Volk of VOLK Company represented M&A Building Ventures in the transaction that closed on December 4, 2024.

The seller, Waldemere LLC, was represented by Mark and Janine Irvin of Mark Irvin Commercial Real Estate Services of Tucson.

For more information on this transaction, Volk can be contacted at 520.326.3200 or the Irvins at 520.620.1833.

To learn more, subscribers can refer to RED Comp #11630 for details.

TUCSON, AZ (December 17, 2024) — Allan Mendelsberg and C. Joey Martinez, Principals and Multifamily Specialists with Cushman & Wakefield | PICOR, represented both parties in the following transactions totaling $8,715,000 for 88 units.

Meadow East & West, LLC purchased a 47-unit multi-family portfolio from RN AZ Holdings LLC. The portfolio, including Meadow West, 1545-1591 N. Santa Rita Ave. and Meadow View, 601 E. Lee St., sold for $4,925,000 ($104,787 per unit).

The Derby Townhomes, LLC purchased Mesquite Grove Apartments, a 29-unit apartment complex located at 1620 E Adelaide Dr. & 1651 E Glenn St., in Tucson. The 21,000-square-foot complex was purchased from Glenwood Village Apartments LP for $2,600,000 ($89,655 per unit).

The Foundry Apts, LLC purchased Winstel Apartments, a 12-unit apartment complex located at 3322 N. Winstel Blvd., in Tucson. The 8,950 square-foot complex was purchased from Winstel, LLC for $1,190,000 ($99,167 per unit).

For more information on these transactions, Mendelsberg can be reached at 520.546.2721 and Martinez is at 520.546.2730.

To learn more, subscribers should refer to RED Comp #11566, #11581 and #11645.

Phoenix, AZ. (December 13, 2024) – ABI Multifamily, the leading multifamily brokerage and advisory services firm in the Western US, is pleased to announce the $21,100,000 ($155,147 Per Unit / $178.51 PSF) sale of Cabo del Sol Apartments, a 136-unit multifamily apartment community located in Tucson, Arizona. The buyer and seller were represented by ABI Multifamily’s Phoenix-based Institutional Arizona Team – Alon Shnitzer, Rue Bax, Eddie Chang, Doug Lazovick, and Tyler Bruggman in collaboration with ABI Multifamily’s Tucson Apartment Team – Desiree Palmer and Ryan Kippes.

The buyer, Break of Day Capital, is based in California. The seller, Element Property Company, is a national multifamily investment firm that acquired the property in 2020.

Cabo del Sol Apartments is a 136-unit, garden-style apartment community located in the Midvale Park submarket of Tucson, AZ. Situated on South Midvale Park Road just north of West Drexel Road, residents have easy access to downtown Tucson directly via an approximate 10-minute drive by way of the Interstate-19. In addition, a multitude of neighborhood conveniences, services, and entertainment options are located just two miles to the east at the Tucson Spectrum outdoor mall which include Target, The Home Depot, Ross Dress for Less, Best Buy, Discount Tire, Harkins Theatre, Sprouts Farmers Market, and Main Event.

Completed in 1999, the Cabo del Sol Apartments is constructed of wood frame and stucco with pitched tile roofing. The property features a unit mix that consists of 26 one-bedroom / one-bathroom units, 30 two-bedroom / one-bathroom units, and 80 three-bedroom / two-bathroom units with a weighted average of 869 square feet. Each unit is individually metered for electricity with individual hot water heaters. Unit interiors feature air conditioning/heating, walk-in closets, patios/balconies, vinyl wood flooring (select units), ceiling fans, access to cable and high-speed internet, as well as fully equipped kitchens with stainless steel appliance packages (select units). The gated community also provides its residents with a swimming pool / spa, clubhouse, laundry facilities, fitness center, business center, children’s playground, gated entry, and open parking.

Significant employers in proximity to the property include Banner University Medical Center South, Freeport-McMoRan, Walmart, Intuit, and the University of Arizona.