Cassidy Turley Completes Sale of Student Housing Complex in Tucson near University of Arizonaby Hot Off The Press (Release) on Jan. 10, 2013, under Press Releases
PHOENIX (Jan. 9, 2012) – Cassidy Turley, a leading commercial real estate provider in the U.S., announced that it completed the $5,600,000 ($63,636 per unit/$22,672 per bed) sale of Arizona Commons II, an 88-unit /247 bed student housing community at 1920 N. 1st Avenue in Tucson. The buyer was MCS Capital Partners, LLC (Phoenix) and the seller was C-III Asset Management, LLC, acting as special servicer for Wells Fargo Bank, N.A., as trustee for the holder of Morgan Stanley I, Inc. commercial mortgage pass through certificates, series 2006 – 1st Quarter 2012. Executive Vice Presidents David Fogler and Steven Nicoluzakis with Cassidy Turley Arizona’s Multi-Family Group brokered the transaction.
Arizona Commons II has furnished two, three and four bedroom apartments that are within walking distance to the University of Arizona campus. Built in 1972, and renovated in 2005/2006 and 2012, the complex features four swimming pools, four on-site laundry facilities, a fitness center and recreation room.
For additional information contact Cassidy Turley Arizona at 602.954.9000 or visit www.ctarizona.com.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,700 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $22 billion in 2011, manages 455 million square feet on behalf of institutional, corporate and private clients and supports more than 28,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information about Cassidy Turley.
Cassidy Turley provides regional real estate services with local market leader Cassidy Turley Arizona. The company offers brokerage investment and advisory services in office, industrial, retail, multi-family, land and property management. The firm has completed over $9.8 billion in transactions since 2003 and was the No. 1 ranked Commercial Real Estate Brokerage Company in the Phoenix Business Journal’s 2010 and 2012 Book of Lists. For more information on Cassidy Turley Arizona visit www.ctarizona.com or call 602.954.9000.