Tower 16 Capital Partners Acquires Multifamily Property In Tucson, AZ For $65.15M

A multifamily property located at 3535 N 1st Ave & 4415 E Grant Rd in Tucson, AZ has been sold. The property consists of 459 units with a total area of 368,876 square feet. The sale was completed on October 19, 2022, at a price of $65,150,000, resulting in a price per unit of $141,939 and a price per square foot of $177.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $65,150,000
• Units: 459
• Price Per Unit: $141,939
• Total Area: 368,876 square feet
• Price Per Square Foot: $177

Tower 16 Capital Partners, represented by Tyler Pruett and Mike Farley, was the seller of the property. The sale was facilitated by the brokers Art Wadlund and Clint Wadlund from Institutional Property Advisors.