Welltower Affiliate Acquires La Sonora at Dove Mountain for $48 Million

MARANA, Arizona (July 22, 2026) — An affiliate of Welltower OP LLC has purchased La Sonora at Dove Mountain, a 149-unit senior living community in Marana, for $48 million.

The transaction closed July 6, 2026, with 5250 W. Dove Centre Road Propco LLC, an affiliate of Welltower OP LLC, acquiring the property from Dove Mountain Residences LLC, an affiliate of Marana Properties LLC.

Located at 5250 W. Dove Centre Road, La Sonora at Dove Mountain contains approximately 128,151 square feet across 5.72 acres. The purchase price equates to approximately $322,147 per unit and $374.56 per square foot and closed on July 6, 2026.

Completed in 2021, the community offers independent living, assisted living and memory-care accommodations. Amenities include a clubhouse, restaurant-style dining, a swimming pool and resident gathering and social spaces.

The sale represents one of Southern Arizona’s larger senior housing transactions of the year and reflects continued investor interest in newer, amenity-rich communities that provide multiple levels of care.

La Sonora is located within the Dove Mountain area of Marana, near expanding residential neighborhoods, retail services and recreational amenities. Its combination of independent living, assisted living and memory care allows residents to transition between levels of support as their needs change.

Welltower acquired the property through a newly formed ownership entity, while the seller was affiliated with the property’s original development group. No brokers were identified in the recorded transaction information.

Source: RED Comp #12594

$1,500 Rents More Apartment Space in Tucson Than a Year Ago

TUCSON, ARIZONA (July 22, 2026) — Tucson renters are getting more apartment for their money in 2026, with a $1,500 monthly budget now securing an average of 914 square feet—15 square feet more than it did a year ago.

That is enough space to put even a two-bedroom apartment within reach for many local renters, according to a new RentCafe analysis comparing how far a $1,500 monthly rent budget stretches across 200 of the nation’s largest cities.

Tucson ranked No. 62 nationally, placing it comfortably above the U.S. average of 703 square feet available for the same monthly budget. The typical apartment nationwide measures 835 square feet, while the national average rent reached $1,740 as of March 2026.

The findings also reinforce Tucson’s relative affordability compared with metropolitan Phoenix. A $1,500 budget rents more space in Tucson than in Phoenix and even outperforms Peoria, the most spacious rental market among the Valley cities included in the analysis. Peoria renters receive 885 square feet for $1,500—29 square feet less than renters can secure in Tucson.

Tucson’s 15-square-foot year-over-year gain was the eighth-largest increase in the country. The improvement is particularly notable because renters gained purchasing power in only 67 of the 200 cities studied. In most markets, rising rents reduced the amount of space available for the same monthly budget.

Although an additional 15 square feet may sound modest, it signals that Tucson rental prices have softened or grown more slowly relative to apartment sizes. For renters, the difference can mean space for a larger bedroom, additional storage or a small home-office area.

RentCafe calculated the results using average rents and apartment sizes in multifamily communities containing at least 50 units. The analysis was based on Yardi Matrix data as of March 2026.

Find the full report here.

CCIM Southern Arizona to Explore University of Arizona Real Estate and Development

TUCSON, AZ (July 22, 2026) — The CCIM Southern Arizona Chapter will take attendees behind the scenes of University of Arizona real estate and development during its August lunch meeting, “Campus Deals,” on Tuesday, Aug. 11, 2026.

The program will examine how real estate decisions are shaping the university and the surrounding community, with discussion expected to include leasing, public-private partnerships, campus growth and future development opportunities for Tucson’s commercial real estate industry.

The panel will feature Alexis Ryland, executive director of the Marshall Foundation; Joshua H. Wright, chief facilities and planning officer for the University of Arizona; and Natalie Furrier of Retail Properties at Cushman & Wakefield | PICOR.

Together, the speakers will offer perspectives from institutional ownership, university planning and commercial brokerage. Their discussion is expected to provide insight into how campus-related transactions are structured, how university growth affects nearby commercial districts and where future opportunities may emerge for developers, investors, brokers and service providers.

The University of Arizona remains one of Southern Arizona’s largest institutional property users and a major influence on Tucson’s development patterns. Decisions involving university facilities, retail spaces, housing, infrastructure and partnerships can have significant effects well beyond the campus boundaries.

The program comes as the university continues to evaluate and advance major capital projects, including new student housing and other facilities intended to support enrollment, campus life and long-term institutional needs. Those investments also create opportunities for collaboration with private developers, contractors, property owners and commercial real estate professionals.

The CCIM panel will be held from 11:30 a.m. to 1 p.m. at Hacienda Del Sol. The event is designed for commercial real estate professionals seeking a better understanding of how university-related real estate decisions are made and how those decisions may influence Tucson’s broader development landscape.

Event details: Tuesday, Aug. 11, 2026, from 11:30 a.m. to 1 p.m. at Hacienda Del Sol.