NAI Horizon brokered the multifamily investment sale of Treehouse Apartments in Tucson for $23 million ($137,725 per unit or $237 psf).
Justin Lanné and Mike Chapman with NAI Horizon’s Tucson office represented both the seller, CaliberCos, Inc.’s Fund, CDIF Sunrise L.L.C., and the buyer, AHC Real Estate FND VIII L.P.
The asset is comprised of 167 units located at 3636 N. Campbell Ave., in Tucson, Arizona. Treehouse Apartments offers three apartment styles – studio, one-, and two-bedroom units.
The community is 3 miles north of the University of Arizona campus and one parcel south of University of Arizona Cancer Center.
Escrow closed on the property on February 10, 2021.
“A new Fannie Mae Loan was placed on the property allowing the buyer to take advantage of the low interest environment,” Lanné said. “Treehouse Apartments were extensively renovated by the seller in 2016.”