IPM Investments Acquires Multifamily Portfolio And Development Site In Tucson For $16M

A multifamily portfolio consisting of 295 units and a 2.8-acre development site was sold in Tucson, AZ. The transaction occurred at a sale price of $16,000,000, reflecting a price per unit of $54,237. The properties are located at 5201 East 2nd Street and 3660 East 3rd Street.

Summary of transaction details:

• Property Type: Multifamily & Development Site
• Transaction Amount: $16,000,000
• Buyer: IPM Investments
• Seller: Desert Ventures LLC
• Broker: Jeff Casper - CBRE
• Units: 295
• Price Per Unit: $54,237

Jeff Casper represented the seller, Desert Ventures LLC, during the transaction and facilitated the deal on their behalf.