September 1, 2016
Monarch Investment & Management Group LLC paid $47.5 million to Hamilton Zanze of San Francisco for acquisition of five multifamily properties in the Tucson, AZ area. The 1,004-unit buy is the Franktown, CO-based investor’s first in Tucson.
The portfolio contained properties built between 1973 and 1985. Average occupancy at time of closing was 94%. The portfolio included:
- The 160-unit Hampton Park at 8600 E. Old Spanish Trail
- The 254-unit San Mateo at 2800 S. Mission Rd.
- The 152-unit Solano Springs at 6340 S. Santa Clara Ave.
- The 310-unit Lakeside Apartments at 8250 E. Golf Links Rd.
- The 128-unit Highland Apartments at 555 N. 7th St.
Cindy Cooke and Brad Cooke of Colliers International in Phoenix represented the seller.
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