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Wednesday, November 19, 2008
Multi-Family

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8/26/2008Tucson student housing portfolio fetches $11.185M
by Eric RamsdenMarcus & Millichap has arranged the sale of a three-property student housing portfolio totaling 56 units in Tucson, Ariz., for a combined sales price of $11.185 million. Hamid Panahi of the firm's Tucson office represented the seller in all three transactions, while Earle Hyman and Mike McClain represented two of the buyers. The portfolio consists of the Sahuaro Point Villas, the GlennStar Apartments and the StoneWood Apartments. The Sahuaro Point property is located at 2326-2366 N. 6th Ave. and contains 20 units. Situated on 1.47 acres, the property sold for $5.5 million. The GlennStar complex is located at 133-193 E. Glenn St. and contains 12 units. It is situated on .83 acres and sold for $1.7 million. The StoneWood property is located at 2621 N. Estrella Ave. and is comprised of 24 units. The complex sold for $3.98 million. Address: Sahuaro Point Villas at 2326-2366 N. 6th Ave., Tucson, Ariz. - GlennStar Apartments at 133-193 E. Glenn St., Tucson, Ariz. - StoneWood Apartments at 2621 N. Estrella Ave., Tucson, Ariz. Size: 56 units Filed Under: Multi-Family | | |
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