Sperry Van Ness Negotiates Sale of Desert Atrium Apartments in Tucson
Neil Sherman and Danny Lee, partners in the Phoenix office of Sperry Van Ness, closed the 37-unit Desert Atrium Apartments at 8750 E. Cooper St. in Tucson.
The bank-owned, 28,872 SF multi-family project received multiple offers as the market continued to improve. Desert Atrium closed at a sales price of $1.215M, or $32,837 per unit, on March 27.
The buyers were Vincent and Irene Delaney, also of Tucson, who were represented by Tony Reed of Long Realty.
“The property has a desirable mix of one and two bedroom units with a number of long-term residents.” Sherman said. “The buyer was looking for a value-add play, which this definitely was.”