News

TGM re-enters Phoenix market with the purchase of Octillo Bay Apartments  CHANDLER, Ariz. (May 8, 2025) – CBRE negotiated the sale of Ocotillo Bay, a 296-unit multifamily community in Chandler, Ariz. CBRE’s Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen represented the seller, a national fund manager. New York-based TGM acquired Ocotillo Bay for $90.5 million. The transaction represents TGM’s re-entry […]

Pima County, (May 8, 2025) – The Pima County Board of Supervisors at its May 6 meeting voted 4-1 to approve a gap funding agreement of $1 million for 84 rental units of multi-family housing in Tucson.  The Rincon Manor project, located near 12th Avenue and Valencia Road, will offer 63 one-bedroom/one-bath units and 21

MARANA, ARIZONA (May 8, 2025) —The state of Arizona has finalized the sale of a shuttered correctional facility at 12700 W Silverbell Road, Marana to Management and Training Corporation (MTC), a Utah-based private prison operator, for $15 million. The 500-bed, minimum-security prison—located northwest of Tucson—was originally built and operated by MTC in the mid-1990s. The state