ORO Valley, Arizona – The newly constructed Quail Park of Oro Valley was sold to a New Jersey Investment Group PGIM Real Estate (Luke Gabay, vice president) for $36.5 million ($361,386 per unit) for the 101-units at 9005 N Oracle Road n Oro Valley.

Located between Hardy and Calle Concordia on Oracle Road, the 83,059-square-foot Quail Park at Oro Valley’s design features a flat roof, mixture of stucco and brick with intricate parapets, that reflects the historical territorial architecture in Oro Valley. The two-story senior community has an “H” plan configuration with central common areas tailored to assisted living and memory care residents.

The unit mix consists of (38) Studios of 440-square-feet each, (43) one-bedroom units of 600-square-feet each, and (20) two-bedroom units of 875-square-feet.

Residents enjoy a wide variety of amenities, including: bistro, movie theater/ chapel, grand parlor complete with billiards, poker and ping pong, fitness center, full service salon, 2 outdoor courtyards, washer & dryer in every Independent and Assisted Living apartment, walk-in showers with built-in shower benches and pet therapy. All Memory Care Private Suites include a private bath.

The property was constructed by CA Ventures of Chicago (Tom Scott, CEO) in 2018.

To learn more see RED Comp #6876.

Funds support events, celebrations and programs that promote tourism in Pima County

PIMA COUNTY –On Tuesday, the Pima County Board of Supervisors unanimously approved $400,000 in funding to outside agencies with attractions and tourism-related programs. Nine non-profit community agencies will receive financial support from the County to promote events, celebrations and programs that provide economic development and improve tourism in Pima County.

“We’re happy to support agencies that drive tourism and provide events and programs to residents and visitors alike throughout Pima County,” Attractions and Tourism Director Diane Frisch said.

Pima County Attractions and Tourism manages the Tourism-Related Outside Agency Program to ensure the services provided compliment and expand those directly offered by the County. Nine organizations submitted applications for Fiscal Year 2019-2020. The total grant request was $441, 244. The Outside Agency Citizen Review Committee reviewed each application and recommended the award to each agency based on available funds.

Recipients of the attractions and tourism outside agency grants include the Ajo District Chamber of Commerce, the Arts Foundation for Tucson & Southern Arizona, the International Sonoran Desert Alliance, Portable Practical Educational Preparation, Southwest Folklife Alliance, Children’s Museum of Tucson, Perimeter Bicycling, Tucson Botanical Gardens, and the Tucson Presidio for Historic Preservation. The recipients will split the approved amount of $400,000.

Picor Handles $3.47 Million in Multifamily Sales Tucson

TUCSON, Arizona — Allan Mendelsberg with Cushman & Wakefield | Picor closed on an aggregate of 48-units for $3.465 million ($61,625 per unit) in Tucson recently in four transactions.

California-based, Brad Land Investors, LLC and The Martin and Stacey Cohan Trust bought an 8-unit student housing building at 317 N Vine Avenue in Tucson. The property is located next to the UA Campus and sold for $1 million ($125,000 per unit). All were two-bedrooms except one, a one-bedroom.  The seller was Bruce and Michelle Minkus of Tucson. Allan Mendelsberg, Principal and Multifamily Specialist with Cushman & Wakefield | PICOR, represented both parties in this transaction.

To learn more, see RED Comp #6817.

Marc Henry and Gaynelle Henry purchased a 12-unit apartment building located at 3525 E. Flower Street in Tucson.  The multifamily property was purchased from Rincon Flower Properties, LLC for $875,000 ($72,916 per unit).  Allan Mendelsberg, Principal, and Logan Nagel and Zach Stone, Multifamily Specialists with Cushman & Wakefield | PICOR, represented the seller in this transaction.  Alexandre Bensahel, with Marcus & Millichap Real Estate Investment Services, Los Angeles, represented the buyer.

To learn more, see RED Comp #6873.

KV Ironwood, LLC purchased Olive Street Apartments from KMS Enterprises, LLC for $640,000 ($40,000 per unit).  The16-unit, multifamily property is located at 201 E. Olive St. & 5261 S. Nogales Highway in Tucson.   Allan Mendelsberg, Principal and Multifamily Specialist with Cushman & Wakefield | PICOR, represented both parties in this transaction.

To learn more, see RED Comp #6801.

Gary and Vicktoria Weessies purchased three buildings at Roger Road Apartments from Brandon B. Matheson.  The multiple property transaction included three, 4-unit buildings located in Tucson:  220 W. Roger Rd. ($316,670), 234 W. Roger Rd. ($316,665), and 238 W. Roger Rd. ($316,665) or a total of $950,000  ($79,166 per unit).  Allan Mendelsberg, Principal, Logan Nagel and Zach Stone, Multifamily Specialists, with Cushman & Wakefield | PICOR, represented the seller in this transaction. Laura Grijalva with Grijalva Realty Corp., represented the buyer. 

To learn more, see RED Comp #6837.

For more information, Mendelsberg can be reached at 520.546.2721.