September 22, 2020
Pebb Student Living, in partnership with student housing and multifamily real estate investment and management firm Coastal Ridge Real Estate, acquired The Cadence Tucson. The 456-bed student housing community in Downtown Tucson was bought for an undisclosed amount.
Pebb Capital’s James Jago says, “The Cadence’s central location and unparalleled visibility offers tremendous opportunity to capitalize on the demographic tailwinds, favorable migration trends and multiple demand drivers in downtown Tucson.”
Serving students at Univ. of Arizona and local young professionals, the JV plans to reposition the asset to maximize its long-term value, which will allow for a more diversified tenant base attracted to the property’s prime downtown location. Located at 345 and 350 E. Congress St., the property spans the intersection of Downtown Tucson’s two most vibrant corridors, Congress Street and the historic Fourth Avenue.
The property includes 196 apartments, from studio to five-bedroom units, that are fully-furnished.
For comments, questions or concerns, please contact Dennis Kaiser