Former Luz Academy Sells for Senior Living Redevelopment

2797 Cerrado
2797 N Cerrado de Beto, Tucson, AZ  (Click to enlarge)

Ramsey Canyon, 4120, LLC has purchased the former Luz Academy at 2797 N. Cerrado de Beto from ROI Properties as Receiver for Luz Social Services, Inc. The former psychiatric hospital and charter school, constructed in 1999 and completely renovated in 2011 is comprised of approximately 40,000-square-feet and sits on 30 acres of land near Silverbell and Ironwood Hills Drive. The total purchase price was $2.25 million ($56.25 PSF).

The buyer plans a complete renovation of the building for a new senior living community.

Gary and Randy Emerson of GRE Partners and ROI Properties represented the Seller in the transaction.

For additional information, please contact Gary Emerson (520-603-9107) or Randy Emerson (520) 429-4967

To learn more, see RED Comp #3863.