An institutional property in Tucson, AZ, has been sold in a recent transaction. The multifamily asset, located at 8250 E Golf Links Rd, was purchased by Bridge Investment Group. The seller, Monarch Investment & Management Group, was represented by Hamid Panahi, Steve Gebing, and Cliff David from Institutional Property Advisors - Marcus & Millichap. The sale price for the property was $63,250,000, with a total of 310 units. This equates to an average price per unit of $204,032.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $63,250,000
• Address: 8250 E Golf Links Rd, Tucson, AZ
• Market: Tucson, AZ
• Buyer: Bridge Investment Group
• Seller: Monarch Investment & Management Group
• Brokers: Hamid Panahi, Steve Gebing, and Cliff David - Institutional Property Advisors - Marcus & Millichap
• Units: 310
• Price per Unit: $204,032

The transaction, which took place on 11/10/2021, involved key individuals and companies in the real estate industry. The buyer, Bridge Investment Group, made a strategic move by acquiring the multifamily property. On the selling side, Monarch Investment & Management Group entrusted the representation of their interests to Hamid Panahi, Steve Gebing, and Cliff David from Institutional Property Advisors - Marcus & Millichap. The successful transaction demonstrates the active real estate market in Tucson, AZ.