Casa Dorinda, Tucson

Multi-Family

Overview

Overview

  • Address: 7576 North Mona Lisa Road, Tucson, AZ
  • Building Area: 251,000 SF
  • # Of Units: 251
  • Occupancy: 100%
  • Year Built: 1997

Sales Prise

  • Sales prise – $22,500,000
  • Prise/Unit – $90,000
Story

Background

The owners of Casa Dorinda Apartments developed, built and owned the 251 unit Class A apartment community in the Foothills of Tucson, Arizona for over 10 years. The complex had high historical occupancy but to be very proved management-intensive.

Plan

Selling the complex for top dollar was only half the plan. The Pacific Bridge Team found an “off market” Power Center located in a suburb of Sacramento with Home Depot and Walmart as anchor stores.

Outcome

The Pacific Bridge Team created an intensive marketing campaign which included a property website, WS ads, postcards and outbound calls to qualified buyers, which resulted in multiple high offers. The winner being a large, private-equity firm out of San Francisco. We were able to find a property for the 1031 exchange for the sellers that was not widely known and therefore underpriced for the market.

Location

Location

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