Mortensen Development Acquires Palm Shadows Student Housing In Tucson For $25 Million From Apartment Owners

The property asset involved in this transaction is a 2.5-acre site known as Palm Shadows, located at 1815 East Speedway Boulevard in Tucson, AZ. The transaction was executed for a sale price of $25,000,000, specifically categorized under the asset type of student housing.

Summary of transaction details:

• Property Type: Student Housing
• Transaction Amount: $25,000,000
• Address: 1815 East Speedway Boulevard
• Market: Tucson, AZ
• Acres: 2.5

Jim Sager from Transwestern represented the seller, who are the apartment owners, in this transaction, facilitating the sale to Mortensen Development. This deal underscores the involvement of noted individuals and firms in the student housing market.