TUCSON, ARIZONA -- The Multifamily team of Allan Mendelsberg and Daniel Leibsohn with Cushman & Wakefield | PICOR in Tucson handled the following transactions this month for an aggregate total of $10.695 million for 207-units.
Pelican 9th, LLC purchased Sonoran on 9th Apartments, a 26-unit complex located at 814 & 838 E. 9th St. in Tucson, from SVP Holdings, LLC for $4.55 million ($175,000 per unit). The seller had begun conversion to student housing and buyer plans to furnish the units. To learn more, see RED Comp #5631.
Vista Hermosa Apartments, LLC purchased Vista Hermosa Apartments, a 57-unit complex located at 3066 N. Balboa Ave. in Tucson, from FMTV, LLC for $1.92 million ($33,684 per unit). The property was fully occupied at time of sale. To learn more, see RED Comp #5632.
The same buyer, Vista Hermosa Apartments, LLC purchased Mi Casitas Apartments, a 47-unit complex located at 252 W. Valencia Rd. in Tucson, from Valencia Tucson, LLC for $1,5 million ($32,000 per unit). The two transactions closed simultaneously but were not contingent on each other. To learn more, see RED Comp #5633.
Palmilla MP, LLC and Palmilla BCL, LLC purchased Vista Palmilla Apartments, a 57 unit complex located at 3828 E. Fort Lowell Rd. and Libertade Apartments, a 20 unit complex located at 3838 E. Presidio St. in Tucson, from Riderjak Properties, LP and Seajak Properties, LP for $2.725 million ($35,390 per unit). The two properties are diagonal of each other and buyer plans to manage them as one complex. To learn more, see RED Comp #5581.
For more information Mendelsberg should be contacted at 520.546.2721 and Leibsohn can be reached at 520.741.7100.