TUCSON, ARIZ. (February 17, 2021) – NAI Horizon brokered the multifamily investment sale of Treehouse Apartments in Tucson for $23 million ($137,725 per unit or $237 psf).
Justin Lanné and Mike Chapman with NAI Horizon’s Tucson office represented both the seller, CaliberCos, Inc.’s Fund, CDIF Sunrise L.L.C., and the buyer, AHC Real Estate FND VIII L.P.
The asset is comprised of 167 units located at 3636 N. Campbell Ave., in Tucson, Arizona. Treehouse Apartments offers three apartment styles – studio, one-, and two-bedroom units.
The community is 3 miles north of the University of Arizona campus and one parcel south of the University of Arizona Cancer Center.
Escrow closed on the property on February 10, 2021.
“A new Fannie Mae Loan was placed on the property allowing the buyer to take advantage of the low-interest environment,” Lanné said. “Treehouse Apartments were extensively renovated by the seller in 2016.”
About NAI Horizon
Exceptional global commercial real estate solutions begin with local market leadership and expertise. Established in 1992, NAI Horizon is a full-service commercial real estate company serving Arizona with offices located in Phoenix and Tucson. NAI Horizon is passionate about the commercial real estate business, providing Brokerage and Property Management Services for local, national and international clients. NAI Horizon is a member of the NAI Global commercial real estate network providing real estate solutions to 375+ offices worldwide. For more information visit www.naihorizon.com.
About NAI Global
Advisory Services, Leasing, Property Management, Property & Note Sales and Tenant Representation
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 375 offices strategically located throughout North America, Latin America and the Caribbean, Europe, Africa and Asia Pacific, with 6,000 local market professionals, managing in excess of 1.15 billion square feet of property and facilities. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions.
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