TUCSON, Ariz. – December 11, 2017 – Berkadia today announced that they completed $45.44 million in sales for two multifamily properties totaling 284 units at $160,000 per unit in Tucson, Arizona. Senior Managing Director Art Wadlund and Associate Director Clint Wadlund completed the deal on behalf of the buyer, California-based M3 Multifamily, LLC and the seller, Aerie Development, based in Arizona. The deals closed on December 6.
“The buyer was attracted to the properties for multiple factors, mainly the single-story apartment home concept,” said Art Wadlund. “The homes are ideally located in the I-10 and Ina/Thornydale corridor and have many features similar to custom homes.”
Avilla Marana I and Avilla Marana II are adjacent properties located at 4050 and 4115 W. Aerie Drive, respectively. Avilla Marana I sold for $26.56 million, and Avilla Marana II sold for $18.88 million. Both properties feature one-, two- and three-bedroom floorplans with high ceilings, custom cabinetry, in-home alarm systems, stainless steel appliances and granite countertops. Residents can also enjoy a resort-style pool, a gated neighborhood and garages.