TUCSON, Ariz. – May 10, 2018 – Berkadia today announced the $42.3 million sale of Avilla Sabino, a multifamily garden-style property in Tucson, Arizona. Senior Managing Director Art Wadlund and Director Clint Wadlund of Berkadia’s Tucson office completed the sale on behalf of the seller, Arizona-based Aerie Development. The buyer was Phoenix-based Farnam Companies, and the deal closed on May 1.
“This is the second Avilla community that Aerie has sold to Farnam, following the sale of Avilla San Marcos in Chandler, Arizona in 2016,” said Wadlund. “The buyer has been very happy with the performance of this single-story detached product and wanted to add Avilla Sabino to their portfolio.”
Located on the 3500 block of N Sabino Canyon Road, the 183-unit property offers two- and three-bedroom units with private backyards, alarm systems and in-unit washers and dryers. Community amenities include a resort-style pool and spa, 24-hour maintenance and a covered rmada. Residents are located just minutes from the Catalina Mountains recreation area and Mount Lemmon.