Two North Central Tucson apartment complexes sold for a total of $7.76 million to out of state investors.

Investors from Washington State, Blacklidge Terrace Apartments – Tucson, LLC of Sammamish, WA (Marco Lizardi, manager) purchased the Blacklidge Terrace Apartments for $4.5 million ($21,635 per unit). The property was 91% occupied at time of sale.

Blacklidge Terrace located at 201 W Blacklidge Drive in North Central Tucson is just minutes south of the Tucson Mall and minutes north of vibrant and ever-improving downtown Tucson. Developed in 1983 by GH Development Company, the property consists of 208 units that deliver comfortable interior appointments through a selection of smart-sized studio, one-, two-, and three-bedroom apartment homes with a weighted average unit size of 531-square-feet. Apartment interiors feature kitchens equipped with a frost-free refrigerator and an electric range. Select units also include walk-in closets, linen closets, and ceiling fans.

Community amenities comprise of two swimming pools and two spas, outdoor spaces featuring picnic areas with barbecue grills, two children’s playgrounds, three basketball courts, and four laundry facilities.

Hamid Panahi with Marcus & Millichap of Tucson handled negotiations for the buyer and the seller, Woodbridge Apartments LLC & Twinbridge Apartments LP (Michael MacElhenny, manager) of Santa Barbara, CA.

To learn more Panahi can be reached at 602.687.6700 or 520.202.2900. See also RED Comp #2428 for additional information.

In a separate transaction, Woodland Village Apartments was sold to Tucson Equity Partners, LLC of San Diego, CA for $3.26 million ($23,286 per unit) on Auction.com. The new owner has since renamed the complex Juniper Canyon located at 3055 N Flowing Wells Rd in North Central Tucson. The property was 90% occupied at time of sale.

The 140-unit complex consists of 77% one-bedrooms and 23% two-bedroom units. Community amenities include a fitness center, club house, ramada area with BBQ grills, a sand volleyball court, swimming pool and spa, laundry facility with new machines, and an on-site rental office. Units features include garbage disposal, stainless steel kitchen sink, everyday electric appliances, air conditioning and ceiling fans.

The seller was Woodland Wells, LLC (Ebrahim Jebreel, manager) of Los Angeles, CA.

Login to see RED Comp #2394 for additional information.

The Palm Canyon Apartments at 2255 W Orange Grove Road, Tucson sold for $25.3 million ($68,750 per unit). This was the second highest sale price for the region in 2014, to see the highest sale click here.  The 368-unit complex has 23 two-story buildings (built 1986) on a 17.21 acres gated community in the Northwest submarket of Tucson.

Houston-based Domain Acquisitions, LLC in partnership with BH Equities, LLC of Des Moines (DFA/BH Arizona Capital II, LLC of Houston, Texas) purchased this property and another complex in Mesa, Midtown on Main Apartments. See www.realestatedaily-news.com/colliers-completes-44-61-million-two-apartment-deals/.

Community amenities include 24-hour emergency maintenance, barbeque grills, business center with equipment, covered parking, extra storage, gated community, heated pool, on-site maintenance, outdoor hot tub, part time security guard, picnic area, short-term leases, state-of-the-art fitness center, pet friendly and well-manicured grounds. Apartment amenities include air conditioning, carpet, ceiling fans, dishwashers, extra storage, garbage disposals, microwave, oversized closets, private patios or balconies, tile floors, washers & dryers, water, sewer, trash, and window treatments.

Michael Sandahl and Wyatt Campbell with CBRE in Tucson represented the seller, San Francisco-based Prime Residential, in the transaction. To learn more Sandahl can be reached at 520.323.5115 and Campbell is at 520.323.5173.

Canyon Heights Apartments at 550 N Pantano Road in Tucson sold for $8.4 million ($42,857 per unit). The 196-unit complex consists of one- and two-bedroom units in 16 buildings (built 1982) on 5.3 acres in the East submarket of Tucson.

The buyer was HSL RE Holdings of Tucson (Canyon Heights Apartment Properties LLC).

Community amenities include a business center, clubhouse, free covered parking, emergency maintenance, extra storage, fitness center, garage, high speed internet access, hot tub, individual leases, laundry facility, public transportation, swimming pool, wireless internet access, subsidies, on-site maintenance, on-site patrol, pet friendly and well-manicured landscaping. Apartments feature air conditioning, balcony, cable ready, ceiling fan(s), dishwasher, hardwood flooring, oversized closets, some paid utilities, views, garbage disposal, and refrigerator.

Art Wadlund of Berkadia Real Estate Advisors in Tucson negotiated the sale on behalf of the seller. To learn more Wadlund should be contacted at 520.529.9206.

Dakota Canyon Apartments at 6201 E Pima Street in Tucson sold for $3.74 million ($46,750 per unit). The value-add 80-unit complex consists of one- two- and three-bedroom apartment homes in six buildings (built 1973) on 4.17 acres in the Northeast submarket of Tucson.

The buyer was EPC Holdings 844, LLC of Bellevue, Washington.

Amenities include mirrored accent walls, new oak kitchens with dishwasher, large closets with organizers, washer/dryer connections, military and preferred employer discounts available, beautifully landscaped grounds, 24 hour emergency maintenance, swimming pool, professional on-site management, convenient location, pantry and coat closets, 24 hour laundry facility, all within walking distance to Tucson’s famous Restaurant Row.

Bob Kaplan with Marcus & Millichap in Denver, represented the seller, San Rafael, California-based Dakota Sierra, LLC. To learn more Kaplan can be reached at 520.271.2304.

Pasadera Behavioral Health Network purchased the campus of Arizona’s Children Association at 2700 and 2820 S. 8th Ave. in South Tucson for $2,025,000 ($34 PSF).  The property consists of nine buildings with residential, clinical, academic and administrative facilities.  Pasadera will consolidate numerous programs at the site. See RED Comp #2372 for more information.

Tom Knox, SIOR, Office Specialist with Cushman & Wakefield | PICOR, and Bob Kaplan with Marcus & Millichap in Denver, represented the buyer in this transaction.

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Pacific Southwest District of the Wesleyan Church (Christian Faith Fellowship) purchased a 21,806-square-foot church area at 1900 N. Country Club Rd. in Tucson from Catalina Baptist Church for $1,700,000 ($78 PSF). The acquisition of the Country Club property will provide the additional space necessary for the continued growth of Christian Faith Fellowship. Catalina Baptist Church had already expanded into their new location at 480 E. Ina Rd., also brokered by Tomlinson, in 2012. See RED Comp #2356 for more information.

Rob Tomlinson, Retail Specialist with Cushman & Wakefield | PICOR, represented the seller and Jon Ash with CBRE, represented the buyer in the transaction.

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Desert Hope Lutheran Church purchased an 8,000-square-foot building at 7474 E. Speedway in Tucson from TM Building Damage Restoration, Inc. for $750,000 ($94 PSF).  The new location will accommodate the continued growth of Desert Hope Lutheran. The property is conveniently located on the eastside. The building sits on +/-4.7 acres of land, offering additional growth opportunities and excess space for recreation and fellowship. See RED Comp #2399 for more information.

Rob Tomlinson, Retail Specialist with Cushman & Wakefield | PICOR, represented the buyer and Terry Lavery, CCIM, and Mike Gross with Tucson Realty & Trust Co., represented the seller in this transaction.

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Iglesia De Cristo purchased a 6,000-square-feet church area at 333, 345, 359 E. Roger Rd. in Tucson from Greater Tucson Casas Adobes Post 10188 Veterans of Foreign Wars for $473,000 (79 PSF). See RED Comp #2350 for more information.

Rob Tomlinson, Retail Specialist with Cushman & Wakefield | PICOR, represented the buyer in the transaction and Bob Baker of Sonoran Ventures, represented the sellers.

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To learn more about these transactions, Knox should be called at 520.546.2701, Kaplan can be reached at 520.271.2304. Call Ash at 520.323.5177 and Lavery and Gross can be contacted at 520.577.7000. Baker is at 520.320.9990 and Tomlinson should be called at (520) 546-2757.

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[mepr-show rules=”58038″] Arizona’s Children Association, 2700 & 2820 S 8th Ave, Tucson closed 12/24/2014 at $2,025,000 all cash transaction, APNs: 119-02-051, 052, 129A, 053-068.

1900 N Country Club Church, closed: 12/19/2014 at $1.7 million, zero down. APNs: 122-15-312A, 320, & 324Q.

333-359 E Roger Rd, Tucson, AZ closed 12/22/2014 at $473,000, all cash. APN: 105-13-030A.

7474 E Speedway, Tucson, AZ closed 1/7/2014 at $750,000. Private financing zero down. APN: 133-23-099L

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