812-Unit Arizona Portfolio on the Market

by Evelina Croitoru

Summit Vista

Phoenix—Institutional Property Advisors has been retained as the exclusive advisor for the disposition of the Southern Arizona Portfolio, which comprises three properties adding up to 812 units. The three assets are marketed as a portfolio, a sub-portfolio or on an individual basis.

The portfolio includes the 288-unit Summit Vista located at 4701 W. Linda Vista Blvd in Tucson, Ariz. The community features one-, two- and three-bedroom floor plates averaging 892 square feet each. The property also incorporates fully equipped kitchens, granite countertops, private washers and dryers, nine-foot ceilings, ceiling fans, large walk-in closets, and private patios or balconies. Amenities include a business center, resort-style pool and a clubhouse, among others.

Located at 3980 W. Linda Vista Blvd in Tucson, Crescent Ridge consists of 272 units with an average size of 821 square feet. The property features one, two- and three-bedroom apartment homes that were completed in 2008. The units feature a fully equipped kitchen, full-size washer and dryer, ceiling fans, large walk-in closets, as well as a spacious private patio or balcony. Amenities include a stand-alone leasing office, a clubhouse, a fitness center, two pools and a spa, among others

The 252-unit Port Royale is situated at 1201 N Colombo Ave. in Sierra Vista, Ariz., and comprises one, two- and three-bedroom floor plans averaging 874 square feet. The apartments’ interiors feature fully equipped kitchens, full-size washers and dryers, ceiling fans, linen closets, and private patios or balconies. Amenities include a resort-style pool, spa, fitness center and a business center, among others.

The portfolio represents a tremendous opportunity to acquire three superior assets that offer top tier amenities in post-2000 constructed properties in southern Arizona.

Image Courtesy of Yardi Matrix