Investor Enters Tucson with 1,004-Unit MF Buy

Monarch Investment & Management Group LLC paid $47.5 million to Hamilton Zanze of San Francisco for acquisition of five multifamily properties in the Tucson, AZ area. The 1,004-unit buy is the Franktown, CO-based investor’s first in Tucson.

The portfolio contained properties built between 1973 and 1985. Average occupancy at time of closing was 94%. The portfolio included:

• The 160-unit Hampton Park at 8600 E. Old Spanish Trail
• The 254-unit San Mateo at 2800 S. Mission Rd.
• The 152-unit Solano Springs at 6340 S. Santa Clara Ave.
• The 310-unit Lakeside Apartments at 8250 E. Golf Links Rd.
• The 128-unit Highland Apartments at 555 N. 7th St.

Cindy Cooke and Brad Cooke of Colliers International in Phoenix represented the seller.

For comments, questions or concerns, please contact Amy Sorter