TUCSON, Ariz. (June 4, 2025) – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced today the sale of University Lofts, a 41-unit apartment property located in Tucson, Arizona. The asset sold for $5,400,000 ($131,707 per unit).
Hamid Panahi, senior vice president of investments, and Clint Wadlund, senior vice president of investments in Marcus & Millichap’s Tucson office, had the exclusive listing to market the property on behalf of the seller, BRAD Management. The buyer, a limited liability company, was also procured by Panahi and Wadlund.
University Lofts is located at 819 North 1st Avenue in Tucson, Arizona. The property is positioned due west of the Main Gate entrance to the University of Arizona, along the Sun Link Streetcar route. Main Gate Square, one city block of core university retail featuring approximately 30 restaurants and 20 retailers, is all that stands between the property and the University of Arizona.
For more information, Wadlund can be reached at 520.719.6525, and Panahi is at 520.719.6511.
Reference: RED Comp #11764.