Tucson Community Changes Hands for $59M
The property last traded in 2019 for $21.8 million.
Mission Antigua Apartments. Image courtesy of ABI Multifamily
Mission Antigua Apartments, a 248-unit community in Tucson, Ariz., has changed hands for $59 million or $237,903 per unit. The Class B property last traded in 2019, when Element Property Co. acquired it from Centurion Management Co. for $21.8 million, according to Yardi Matrix data. ABI Multifamily represented both California-based parties in the current deal.
Located at 5525 S. Mission Road, Mission Antigua is composed of one-, two- and three-bedroom floorplans, ranging from 473 to 1,032 square feet, across 11 two- and three-story buildings. All apartments feature air conditioning, dishwashers, vaulted ceilings and oversized closets; in addition, the three-bedroom units have washers and dryers. Common-area amenities include a swimming pool, spa, fitness center, clubhouse and 500 parking spaces.
The community came online in 1989 north of Drexel Road and west of Interstate 19, some 10 miles southwest of downtown Tucson. The location is 2 miles from Tucson Spectrum, a 968,000-square-foot shopping center, and 6.5 miles from Tucson International Airport.
ABI Senior Partners Alon Shnitzer, Rue Bax, Eddie Chang and Doug Lazovick, together with Vice Presidents Desiree Palmer and Ryan Kippes, facilitated the transaction.
Earlier this month, two other Tucson communities changed ownership. Marcus & Millichap’s Institutional Property Advisors arranged the $53.9 million disposition of Peaks at Redington and the $178 million sale of Hilands.
