Hilands breaks record for biggest multifamily sale in Tucson history with a $178 million sales price. 

You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur. FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. PLEASE LET ME KNOW HOW I CAN HELP YOU. Call me if you want to sell your property and need an estimated value.   Phone / Prefer cell: 520-975-5207
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REAL ESTATE | 58 minutes ago | AZRE

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Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of Hilands, a 826-unit multifamily asset in Tucson, Arizona. The $178 million sales price, which represents $215,496 per unit, is the highest single-asset multifamily transaction in Tucson history.

“The largest multifamily asset in Pima County and only one of 11 garden-style multifamily assets larger than 100 units in the affluent Catalina Foothills submarket, Hilands presents our buyer with a tremendous opportunity to add value through a programmatic interior renovation program,” said Hamid Panahi, IPA senior vice president. “Under previous ownership for over 25 years, the property is supported by the submarket’s 96.95% multifamily vacancy rate and median annual household income of $93,000.”


READ ALSOLPC Desert West enters Tucson market with 1M SF industrial project


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“Rental demand is projected to remain strong within the submarket due to lack of new single-family and multifamily supply, a continued low rent-to-income ratio compared with other Western metros, and a consistently large affordability delta between rent and mortgage payments as Tucson’s home values continue to increase close to 30% year-over-year,” added Clint Wadlund, IPA senior director. IPA’s Clint Wadlund, Hamid Panahi, Art Wadlund, Steve Gebing and Cliff David represented the seller, Northland Investment Corporation, and procured the buyer, Bridge Investment Group.

The property is located in suburban North Tucson at the intersection of North Craycroft Road and River Road. The 22-mile Rillito River Park Trail is directly accessible, the Tucson Medical Center is two miles away and two schools are nearby. There are 3,000 businesses within a five-mile radius of Hilands, including employers such as Carondelet St. Joseph’s Hospital, Tucson Unified School District, Canyon Ranch, ADP, Loews Ventana Canyon Resort, Walmart, Texas Instruments, and The Westin La Paloma Resort and Spa. The Tucson Country Club and Dorado Golf Course are within a short drive and shopping is nearby at River Center, Synergy Plaza and the Tucson Mall.

Built in two phases in 1985 and 1986 the garden-style, 460,418-net-rentable-square-foot property has 41 residential buildings, a swimming pool and covered parking. Additional community amenities include a 24-hour fitness center, an air-conditioned racquetball court and two lighted tennis courts. Apartments have breakfast bars, French doors and extra storage space. Select units have stacked and full-size washers and dryers and private patios. The average unit size is 557 square feet.

SEE IT ALL:   https://azbigmedia.com/real-estate/big-deals/highlands-breaks-record-for-biggest-multifamily-sale-in-tucson-history/

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FROM ME:  FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. Now is the time, if you are thinking of selling or purchasing your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County, Pinal County, Arizona / Office  / Retail  / Industrial  / Multi-family /  please call me on my cell 520-975-5207 or e-mail me     walterunger@ccim.net. Investors and Owner / Users need to really know the market today before making a move. The market has a lot of moving parts. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land  Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands your needs. I am marketing my listings on Costar, Loop-net,  CCIM,  CREXi, Catylist, and various other web sites.  I also sold  hundreds millions of dollars’ worth of  Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with  brokers, Investors and Developers. I am also a CCIM and through this origination ( www.ccim.com ) I have access to marketing not only in the United States, but also international

DISCOVER WHAT IS HAPPENING IN ARIZONA

History of Arizona from  900 BC – 2017 -Timeline.

   What is a CCIM.  In Business and in Life you don’t get what you deserve, you get what you Negotiate.

Are you ready to sell or purchase your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County and Pinal County, Arizona, please call me?

contact me if you want the me to get you the value of your property.

Walter Unger CCIM – cell: 520-975-5207 – walterunger@ccim.net

Click here to find out what is a   CCIM:

 CLICK HERE TO VIEW ALL MY LISTINGS. 

Are you ready to sell or purchase your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County and Pinal County, Arizona, please call me?

DISCOVER WHAT IS HAPPENING IN ARIZONA

History of Arizona from  900 BC – 2017 -Timeline.

Walter Unger CCIM cell: 520-975-5207  walterunger@ccim.net

What is a CCIM.

Walter Unger CCIM

Associate Broker

West USA Commercial Division

7077 E MARILYN RD.

Suite 200, Building 4.

Scottsdale AZ, 85254

Phone: 480-948-5554

Cell: 520-975-5207

walterunger@ccim.net

History of Arizona from  900 BC – 2017 -Timeline.

WHY PHOENIX? AMAZING!!!  POPULATION – IN 1950 THERE WERE 331,700 PEOPLE LIVING IN PHOENIX – “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”

PHOENIX TOPS US IN POPULATION GROWTH (MORE THAN LA, NYC) AND WHY THAT’S GOOD FOR THE ECONOMY, BUSINESS

History of Arizona from  900 BC – 2017 -Timeline.

WHY PHOENIX? AMAZING!!!  POPULATION IN 1950 – 350 K PEOPLE; “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”

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  • DEMOGRAPHIC FACTS ABOUT MARICOPA COUNTY:

Walter Unger CCIM –  walterunger@ccim.net   – 1-520-975-5207  –  http://walter-unger.com

Why Phoenix?  This is a very interesting article, you should read it, amazing, there were only 350 K people living in Phoenix in 1950

Timeline of Phoenix, Arizona history

Phoenix, Arizona

Facts of Arizona – year 1848 to 2013

CLICK HERE:  Arizona Opportunity Zones As We Understand /maps. Interested!!! Please contact me.

Are you ready to sell or purchase your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County and Pinal County, Arizona, please call me?

Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix, Tucson, Arizona.

Walter Unger CCIM

Associate Broker

West USA Commercial Division

7077 E MARILYN RD.

Suite 200, Building 4.

Scottsdale AZ, 85254

Phone: 480-948-5554

Cell: 520-975-5207

walterunger@ccim.net

What is a CCIM.

FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. PLEASE LET ME KNOW HOW I CAN HELP YOU PLEASE CALL ME

CLICK HERE TO VIEW ALL MY LISTINGS. 

Also Call me if you need an estimated value of your Property.

Call me if you want to see a map with what is in the Construction Pipeline for Apartments.

Prefer cell: 520-975-5207,   or email me walterunger@ccim.net.       CLICK HERE TO VIEW ALL MY LISTINGS.    

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I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years.  If you have any questions about Commercial / Investment Properties in Phoenix or Commercial /  Investment Properties in Arizona,  I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us. 

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