Founders Group Sells 202-Unit Multifamily Community in Tucson
TUCSON, ARIZ. — The Founders Group has completed the disposition of The Place at 2120, an apartment property in Tucson. AndMark acquired the property for $18 million, or $89,356 per unit. Hamid Panahi and Clint Wadlund of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Built in 1986 on more than 7 acres, The Place at 2120 features 202 one-, two- and three-bedroom floor plans, with select units offering vaulted ceilings and linen closets. Community amenities include a swimming pool and spa, a fitness center, dog park, laundry facilities and playground. Previous ownership upgraded approximately 90 percent of the unit interiors. The Founders Group has sold The Place at 2120, an apartment property in Tucson, for $18 million, or $89,356 per unit. The property, built in 1986 on over 7 acres, features 202 one-, two- and three-bedroom floor plans, with select units offering vaulted ceilings and linen closets. The buyer, AndMark, upgraded approximately 90 percent of the unit interiors prior to the purchase.
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TUCSON, ARIZ. — The Founders Group has completed the disposition of The Place at 2120, an apartment property in Tucson. AndMark acquired the property for $18 million, or $89,356 per unit. Hamid Panahi... [712 symbols]
