TUCSON, Ariz. –  Two multifamily properties, Avilla Marana I and Avilla Marana II, totaling 284-units sold for $45.44 million ($160,000 per unit). The multifamily properties are located at 4050 and 4115 West Aerie Drive in Marana, AZ.

Senior Managing Director Art Wadlund and Associate Director Clint Wadlund of Berkadia Real Estate Advisors in Tucson completed the deal on behalf of the buyer, California-based M3 Multifamily, LLC and the seller, Alta Vista Communities of Arizona, a joint venture of Karber Holdings (Roger Karber) and Brav Holding Company (Garry Brav) an affiliate of BFL Construction.

Seller has retained 27 acres at the site on Aerie Drive for future construction of another 500- units.

The buyer is a Santa Barbara, California company, M3 Multifamily, LLC. Formed in 2008 by John Mosby and Jon Martin for the purpose of acquiring, renovating and managing existing apartment communities in the United States in order to create cash flow and profits for their investors. Since then M3 has grown steadily, and currently owns/manages communities in Austin, San Antonio, Nashville, Reno, and Tucson.

This transaction represents the fourth acquisition for M3 Multifamily in Tucson from the same seller. It also owns Aerie at Tanque Verde, an 85-unit detached luxury rental community, located at 2495 N Desert Links Drive in Northeast Tucson purchased in 2013; Avilla River luxury rental community, a 76-unit community at 1000 W River Road, Tucson sold in 2014; and Avilla Preserve Orange Grove, a 184-unit luxury rental community, located at 2501 W Orange Grove Road, Tucson was acquired in 2015.

“The buyer was attracted to the properties for multiple factors, mainly the single-story apartment home concept,” said Art Wadlund referring to the latest transaction. “The homes are ideally located in the I-10 and Ina/Thornydale corridor and have many features similar to custom homes.”

Avilla Marana I and Avilla Marana II are adjacent properties. Avilla Marana I sold for $26.56 million, and Avilla Marana II sold for $18.88 million in two separate transactions. Both properties feature one-, two- and three-bedroom floorplans with high ceilings, custom cabinetry, in-home alarm systems, stainless steel appliances and granite countertops. Residents can also enjoy a resort-style pool, a gated neighborhood and garages.

For additional information, Art and Clint Wadlund can be reached at 520.299.7200 and Karber is available at 520.977.5456.

TUCSON, ARIZONA — Berkadia recently handled the $37.25 million ($103.472 per unit) sale of Mission Palms, a garden-style multifamily property located in Tucson, Arizona. Senior Managing Director Art Wadlund and Associate Director Clint Wadlund of the Tucson office represented both the buyer, ROC Senior Living, and the seller, Stoneweg US LLC. The deal closed on July 31.

Located at 951 Orange Grove Road, the 360-unit property features one- and two-bedroom floor plans. Apartments come ready with dishwashers, air conditioners, refrigerators, carpeting, garbage disposals, extra storage, private patios and washer and dryer units. Residents enjoy amenities such as a business center, barbeque and picnic area, courtyard, fitness center, monthly resident events, on-site maintenance, playground, putting course, renovated clubhouse, two swimming pools, soccer field, spa and fire pit. Mission Palms also provides quick accessability to the nearby Catalina Foothills and downtown Tucson.

The two-story 372,928-square-feet class-B complex has 92 masonry buildings on 28.7 acres. Built in 1978, the community consist of 33% one-bedrooms and 67% two-bedrooms floor plans. The one bedrooms are 754 square-feet and the two-bedrooms range in size from 1,140 square-feet to 1,309 square-feet.

The property includes such amenities as two pools, tennis courts, a clubhouse, a putting green, a one-mile walking trail and as much citrus as one can manage to collect. In addition to year-round good weather, residents are also given a complimentary membership to a local gym.

“We’ve seen strong apartment demand across the Tucson market all year,” Art Wadlund said. “Mission Palms was a great investment opportunity due to the quality of the property and the various amenities that attract a strong renter community.”

For more information, Art Wadlund should be reached at 520.299.7200 and Clint Wadlund is at 520.529.9206.

To learn more, login and see RED Comp #5057.  or to see more listings like this go to RED Listing Registry.

TUCSON, Arizona – A joint venture between two Swiss real estate companies, Stoneweg US LLC and Varia US Southwest LLC, bought the Zona Village Apartments at 2855 W Anklam Road in Tucson for $10.05 million ($54,918 per unit) from SFF Investments, Ltd. of Colorado.

The 183-unit apartment complex was built in 1969 and consists of 24 one-, two- and three-story, garden-style buildings, totaling approximately 98,366-square-feet of rentable space on 5.72 acres, located southwest of Anklam and Silverbell Roads.

The property features one-and two-bedroom units in six individual floor plans averaging approximately 538-square-feet and sold with 98% occupancy.

Unit amenities include air conditioning, a disposal, and frost-free refrigerator. Select units have ceiling fans, a dishwasher, backsplash in the kitchen, faux-wood flooring, walk-in closets, mini-blinds, vertical blinds, and storage.

Community amenities include swimming pool, basketball court, three laundry facilities, and Ramada with barbeque grills.

Zona Village is nestled in the Tucson Mountains with much of the open land surrounding it  federally protected as Tucson Mountain Park yet within minutes of Tucson Central Business District, the UofA, Pima Community College and large medical facilities and hospitals.

In a second transaction, Juniper Canyon Apartments at 3055 N Flowing Wells Road in Tucson sold for $6.23 million ($44,170 per unit) to Bozeman, Montana investors.

The 141-unit apartment complex was built in 1985 on 3.8 acres and is located at the northwest corner of Flowing Wells and Miracle Mile Roads in the Central submarket of Tucson. The seller, Tucson Equity Partners of La Jolla California had purchased the property in 2015 in a distress sale and did extensive renovations to it.

The property consists of 141-units: (41) 1/1 404 SF rent for $410, (68) 1/1 580 SF rent for $460, and (32) 2/2 725 SF rent for $590. The property was 98% occupied at time of sale.

Amenities include air conditioning, cable TV available, disability access, dishwasher, pet – friendly, some paid utilities, walk-in closets, a clubhouse, emergency maintenance, fitness center, laundry facility, public transportation, swimming pool and hot tub/spa.

Art and Clint Wadlund of Berkadia’s Tucson office represented the sellers in both transactions.

For more information, Art Wadlund can be reached at 520.299.7200 and Clint Wadlund should be called at 520.615.1100.

To learn more, see RED Comp #4980 and #4974.