Faith Christian Fellowship of Tucson (FCFT) has purchased the former Community of Hope Lutheran Church at 3141 W Ironwood Drive in Tucson. The property commanded a sale price of $1.015 million ($83 PSF) in in REO sale. The 12,256-square-foot church (built 1994) on 3.58 acres had been vacant for about a year prior to the sale.
The seller was Gold Ring Holdings LLC, an affiliate of Thrivent Financial of Minneapolis, MN. Thrivent Financial specializes in Church and Institution Financing Programs designed to provide funding for new churches, school expansions, renovations and remodeling, as well as refinancing existing debt.
The seller also was able to do a seller carry back with the buyer.
Faith Christian Fellowship (FCFT) was founded in 2004 by Pastors Virgil and Judy Stokes. The rhythm of life at FCFT goes like this: Repairing Broken People… Preparing Willing People… Celebrating The Goodness of God…According to the church’s website, ”We believe that God saves and heals through faith in His Word & the Holy Spirit is welcome to manifest Himself in our services. Come early for coffee, stay late for fellowship, and experience our motto: The Word & The Spirit... Keepin' it Real!”
The buyer will be relocating from its current location at 2425 N Huachuca Drive as soon as possible and hope to have no disruptions in services. The property sold with some deferred maintenance, estimated at about $25,000 to cure including deferred HVAC and roof work.
Alan Moore of Chapman Lindsey in Tucson represented the buyer and Rob Tomlinson of Cushman & Wakefield | Picor in Tucson represented the seller.
To learn more FCFT can be reached at (520) 792-FCFT. Moore can be reached at (520) 747-4000 and Tomlinson is at (520) 546-2757.
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[mepr-show rules="58038"]Sale date: 6/12/2014. Down Payment: $79,000, seller financed the balance. APN: 116-04-120A. Property was on the market 14-15 months and was in escrow 90 days.[/mepr-show]