TUCSON, AZ – Marcus & Millichap (NYSE: MMI) announced the sale of Dakota Canyon, an 80-unit apartment property located in Tucson, AZ, according to Ryan Sarbinoff, regional manager of the firm’s Tucson and Phoenix offices.
The asset sold for $6,080,000 ($76,000 per unit).
Hamid Panahi, James K. Crawley and Lane Schwartz, investment specialists in Marcus & Millichap’s Tucson office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, an individual/personal trust, was secured and represented by Hamid Panahi, James K. Crawley and Lane Schwartz.
Dakota Canyon is located at 6201 E Pima St in Tucson, AZ.
“Dakota Canyon presented an opportunity for the new ownership to expand their footprint of over 1,200 units in the Tucson Metro” said Panahi. “Dakota Canyon represents the Buyer’s first acquisition in the Northeast submarket and with lush grounds, one-, two-, and three-bedroom units with washer dryers in select units, Dakota Canyon is one of the most unique assets in the submarket,” said Panahi.
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