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Phoenix & Southwest   /   February 19, 2021

Lisa Brown
By: Lisa Brown

New Owner Gets Renovated Multifamily Asset in $23M Buy

Treehouse Apartments were extensively renovated in 2016. Fast forward to today and the apartment asset recently sold to AHC Real Estate FND VIII LP for $23 million or $137,725 per unit and $237 per square foot.

Treehouse is located at 3636 N. Campbell Ave. in Tucson. The community is three miles north of the University of Arizona campus and one parcel south of the University of Arizona Cancer Center. The asset is comprised of 167 units with three apartment styles – studio, one-, and two-bedroom units.

Justin Lanné and Mike Chapman with NAI Horizon’s Tucson office represented both the seller, CaliberCos Inc.’s Fund, CDIF Sunrise LLC, and the buyer.

“A new Fannie Mae loan was placed on the property, allowing the buyer to take advantage of the low-interest environment,” Lanné said.

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Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
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