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CBRE Brokers Sell The Parker Tucson Student Housing For Record $132.5M

Property Image
SOLD
$132,500,000
Jaclyn Fitts
Jeff Casper

Arizona

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Student Housing
Sold 03/25/2024
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Property Image
SOLD

CBRE Brokers Sell The Parker Tucson Student Housing For Record $132.5M

947 North Park Avenue

See Similar Deals
Student Housing
Sold 03/25/2024
Jaclyn Fitts
Jeff Casper
the dealplayerscompscontact
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Summary

ARIZONA
Asset Type:Student Housing
Transaction Type:Sale

The Parker Tucson, a student housing asset located at 947 North Park Avenue in Tucson, AZ, was recently sold for a record-breaking $132,500,000. Developed by Sterling University Housing, this eight-story complex features 130 units with 482 beds. It boasts amenities such as a rooftop deck, poolside cabanas, an outdoor kitchen, and even houses an on-site Chase Bank branch.

Summary of transaction details:

The sale of The Parker Tucson, adjacent to the University of Arizona campus, for $132.5 million, marks a significant milestone in Tucson's real estate history. The involvement of brokers Jaclyn Fitts and Jeff Casper from CBRE showcases the expertise and professionalism behind this monumental transaction.

Players

Jaclyn Fitts
CBRE
Jaclyn Fitts
5 deals$402M volume(214) 979-6524
BROKER
Jeff Casper
CBRE
Jeff Casper
2 deals$148.5M volume(520) 323-5181
BROKER

Details

SOLD
IMAGE: 03/25/2024 ADDRESS: 947 North Park Avenue MARKET: Tucson, AZ ASSET TYPE: Student Housing BROKERS: Jaclyn Fitts & Jeff Casper - CBRE SALE PRICE: $132,500,000 NOTE: The Parker Tucson, adjacent to the University of Arizona campus, was sold for a record-breaking $132.5 million, marking the highest sale price in Tucson history at over $1 million per unit and $274,896 per bed. Developed by Sterling University Housing, the eight-story complex comprises 130 units with 482 beds and offers amenities like a rooftop deck, poolside cabanas, outdoor kitchen, and an on-site Chase Bank branch.

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