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September 1, 2016 Comments Off on Investor Enters Tucson with 1,004-Unit MF Buy Views: 248 Arizona, California, Colorado, National News, Southwest, West

Investor Enters Tucson with 1,004-Unit MF Buy

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.

Connect with Colliers’ Cindy Cooke

Connect with Colliers’ Brad Cooke

For comments, questions or concerns, please contact Amy Sorter

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