Berkadia has closed on three Tucson Apartment deals: Pantano Park, located at 200 S. Pantano Rd.; Woodridge, located at 8225 E. Speedway Blvd.; and El Conquistador, located at 1881 E. Irvington Rd. Senior managing director Art Wadlund and associate Clint Wadlund of the Tucson office negotiated the three transactions.
Pantano Park Apartments sold for $7.21 million ($53,015 per unit) or $71 per square-foot. Associate Rick Salinas of Berkadia’s San Francisco office arranged financing.
Built in 1981, the 136-unit property features one- and two-bedroom floor plans. Each unit features fully equipped kitchens, pantries, ceiling fans, vertical and mini-blinds, balcony or patio, storage, walk-in closets and cable/internet access. Select units have fireplaces. Community amenities include a clubhouse with kitchen and fireplace, heated swimming pool, spa, laundry facility, barbecue areas with grills and health club passes.
The community is located near Broadway Boulevard, providing residents access to the entire Tucson area. Pantano Park is two and a half miles from Park Place Mall and eight miles from University of Arizona. Top employers in the immediate area include Tucson Medical Center, St. Joseph's Hospital, Davis-Monthan Air Force Base and Honeywell.
The seller was Brookfield Investment Corp. of Brookfield, WI (Roy Uelner, manager). The buyer was MCTUC, LLC of San Diego, CA (Mark McMillin, manager).
Woodridge Apartments sold for $9.75 million ($47,794 per unit), or $83 per square foot. Built in 1981, the 204-unit property features one- and two-bedroom floor plans. Each unit features fully equipped kitchens, mini-blinds, balcony or patio, cable access and extra storage. Select units have ceiling fans, frost-free refrigerators, and walk-in closets. Community amenities include a clubhouse with a kitchen, high-speed internet, fitness center, heated swimming pool, spa, laundry facility and garage rentals.
The community is located on Speedway Boulevard, four miles from Park Place Mall and eight miles from University of Arizona. Top employers in the immediate area include Tucson Medical Center, St. Joseph's Hospital, Davis-Monthan Air Force Base and Honeywell. The seller was HSL Properties of Tucson (Omar Mireles, vice-president). The buyer was Woodridge Apartments Holding, LLC of San Diego (Charles and Kary Harris).
El Conquistador Apartments sold for $4.53 million ($22,537 per unit), or $56 per square-foot. Built in 1981, the 201-unit property features studio, one- and two-bedroom floor plans. Each unit features air conditioning, mini-blinds, walk-in closets, built-in dining room tables and cable access. Community amenities include a heated swimming pool, spa, gazebo, fitness center, laundry room with a television lounge, tennis, sand volleyball, racquetball and basketball courts, jogging track, shuffleboard and horseshoes.
The community is located on Irvington Road and near Campbell Avenue and Interstate 10, three miles from Tucson International Airport and five and a half miles from the Tucson Convention Center. Top employers in the immediate area include University of Arizona, Raytheon Missile Systems, Providence of Arizona Inc., and University Medical Center. The seller was Coordinated Partners Inc. of Salt Lake City. The buyer was Oksenholt Asset Managemnet, LLC of Lincoln City, OR.
To learn more Art Wadlund should contacted at 520.299.7200 and Clint Wadlund is at 520.529.9206.
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