Danny Lee and Neil Sherman, partners in the Phoenix office of Sperry Van Ness, negotiated the sale of Valencia Hills Apartments, 3350 W. Valencia Rd. in Tucson.
Lee and Sherman represented both the buyer and seller.
The 67,256 SF property consists of six, 2-story, garden style apartment buildings situated on a 3.4-acre lot. Valencia Hills closed at a sales price of $2.825M, or $25,446 per unit, on March 3.
The property had 15 years of continuous ownership and the buyer, Mabry Management Company, Inc., assumed the existing financing.
“The property is just three miles east of Casino Del Sol, a major attraction offering a full resort, spa and casino,” Sherman said. “The buyer already had a presence in the Tucson market, and was looking to add to those holdings.”
