Phoenix & Southwest + Apartments | February 2, 2017

Tucson Apartments Sell for $13M Total

Two Tucson apartments traded hands in different transactions for a total of $13 million. Both properties were acquired by private investors, with Trevor Koskovich, Bill Hahn, Jeff Sherman and Jesse Hudson of Colliers International in Greater Phoenix negotiating the transaction.

Dale Scheck of Deerfield, IL purchased the 199-unit Sherwood Gardens Apartments from MF Blue Valley Apartments LLC of West Palm Beach, FL. for $7.54 million. The property at 6534 E. Stella Rd. is situated on 19 acres, and was 95% occupied at the time of sale.

The 165-unit Sunpointe Gardens Apartments at 2727 N. Oracle Rd. sold for $5.5 million. George Lee and Michael Lee purchased the property from Ann Diaz of Tucson and Jack Tiano of Dana Point, CA. The property was 93% leased at the time of sale.

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Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

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