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Lender Offloads 301-Unit Tucson Apartment Asset
A lender-owned Tucson apartment complex traded for $32 million, well below what the previous buyer paid for the development four years earlier. Multihousing News reports that Trez Capital divested the asset, Peaks at Redington, following the previous owner’s deed-in-lieu-of-foreclosure in January 2026. The latest transaction’s sale price represents a 40% discount to the property’s previous trade four years ago, which was $53.9 million. Greenwater Real Estate Management was the buyer of the discounted property.
MF Asset Management previously purchased the property in 2022, financing the acquisition with a $44.6 million loan from Trez.
Constructed in 1980, Peaks at Redington features one- and two-bedroom units averaging 722 square feet.
Clint Wadlund and Hamid Panahi of IPA Advisors represented the seller in the disposition of the lender-owned asset and procured Greenwater.
- ◦Sale/Acquisition
