TUCSON, AZ (September 3, 2025) — TMR Investments (TMR) announced the successful sale of Circ Tucson Apartments, a 368-unit multifamily community located at 2255 W Orange Grove Rd. in the Casas Adobes neighborhood of north Tucson, Arizona. The transaction marks the largest apartment sale of an 80-plus unit multifamily property in the Tucson market since 2023 and represents the culmination of TMR’s ownership journey, which began with the property’s acquisition in July 2019.
While financial terms remain confidential, the per-unit valuation achieved in the sale reflects a meaningful premium over the year-to-date average for comparable Tucson transactions—underscoring Circ Tucson’s strong market positioning and appeal.
The IPA Tucson Team brokered the deal: Clint Wadlund and Hamid Panahi.
During its six years of ownership, TMR executed a comprehensive capital improvement program designed to elevate the community’s profile and resident experience. Major upgrades included:
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Renovation of 240 units with contemporary, market-leading finishes
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A redesigned clubhouse and upgraded fitness center
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Enhanced amenities such as upgraded pool and spa areas and the addition of EV charging stations
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A full rebranding, introducing the Circ Tucson identity to reflect the property’s modern, vibrant lifestyle
“Our vision for Circ Tucson was to reimagine this community through strategic renovations and deliver high-quality workforce housing to Casas Adobes,” said Ryan Sheridan, Principal at TMR. “We’re proud of the transformation and thankful for the positive response from both residents and the broader community.”
The repositioning of Circ Tucson highlights TMR’s commitment to creating long-term value through thoughtful investment, design innovation, and community-focused development. Beyond strengthening the property’s performance, the improvements also enhanced the overall appeal of the surrounding neighborhood.
Headquartered in Seattle, Washington, TMR Investments specializes in multifamily partnership investments with a focus on value-add opportunities. Its current portfolio spans five states and includes more than 3,500 units valued at over $845 million.
Since its founding in 1981, TMR has closed more than $1 billion in multifamily transactions—without a single capital loss—delivering consistent cash flow and capital gains for investors. The company’s disciplined approach, conservative underwriting, and hands-on management have established a reputation for protecting and growing investor capital while providing safe, modern, and competitively priced housing.