TUCSON, ARIZONA -- Allan Mendelsberg, Principal and Conrad Martinez, Multifamily Specialists with Cushman & Wakefield | PICOR closed on three apartment communities valued at an aggregate $10.08 million and $95,000 per unit. All three separate transactions closed in the first weeks of July.
Wasko Modern, LLC purchased Wasko Apartments, a 38-unit apartment complex located at 2302 E. Fort Lowell Rd. in Tucson. The investment property consisting of 30,280-square-feet of multifamily space, was purchased from Wasko Modern Apartments LLC for $5,275,000 ($139,816 per unit / $174 PSF).
Fast River, LLC & Square West, LLC purchased Miramonte at Third Apartments, a 61-unit apartment complex located at 811-835 N. Alvernon Way in Tucson. The investment property consisting of 38,491-square-feet of multifamily space, was purchased from ZFI, LLC & KMS Properties, LLC for $3,950,000 ($64,755 per unit / $103 PSF).
AZ 1647 Santa Rita, LP purchased University Bungalows, a 7-unit apartment complex, located at 1647 N. Santa Rita Ave. in Tucson. The investment property consisting of 2,490-square-feet of multifamily space, was purchased from Santa Rita 7, LLC for $855,000 ($122,143 per unit / $343. PSF).
Allan Mendelsberg, Principal and Conrad Martinez, Multifamily Specialists with Cushman & Wakefield | PICOR, represented both parties in these transactions.
Mendelsberg should be contacted at 520.546.2721 and Martinez can be reached at 520.546.2730.
To learn more, see RED Comp #7924, #7937 and #7938.