TUCSON, AZ (January 22, 2026) – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) dedicated to serving the company’s institutional clients, announced today the sale of Vertical East Apartments, a 109-unit multifamily property in Tucson, Arizona. The $22 million sales price equates to $201,834 per unit.
The sale closed on January 15, 2026.
“Transactions involving post-2000 vintage assets remain exceptionally rare, and when they do occur, they reflect a clear investor preference for modern, well-located product in supply-constrained markets like Tucson,” said Clint Wadlund, IPA managing director investments. “As Tucson multifamily sales velocity increased in 2025, it signals a clear investor thesis: Tucson is emerging as a destination where strategic capital, disciplined investment, and long-term value creation align,” said Hamid Panahi, IPA senior managing director investments. Wadlund, Panahi, and IPA’s Steve Gebing and Cliff David represented the seller, Vertical Street Ventures, and procured the buyer, Investor Capital Group.
The property is in Northeast Tucson, close to the Tucson Medical Center and the Santa Catalina Mountains. Downtown Tucson, the University of Arizona, Tucson Botanical Gardens, and Park Place Mall are within a short drive. The Mission Village and Catalina Villages shopping centers are less than one mile away.
Completed in 2001, Vertical East features two- and three-bedroom floor plans averaging 1,188 square feet. All units have washers and dryers, built-in microwaves, and dishwashers. Community amenities include carport parking, a swimming pool, spa, picnic area, and dog park.
To learn more, Hamid Panahi can be reaches at 520.719.6511 and Clint Wadlund is at 520.349.0621.
Source: RED Comp #12308