Justin Lanne and Mike Chapman of the NAI Horizon Tucson Multi Family Brokerage Team have sold the Galeria Del Rio, a 101 Unit apartment community located at 5132 Prairie Clover Trail, Tucson, Az. The Purchaser was an entity of Rincon Partners LLC (CPG Capital LLC) based in Scottsdale, AZ. The Seller was River Commons LLC located in Tucson. The property was completed in December 2014. The purchase price was $19,300,000 ($191,089 per unit) ($121.50 per square foot) the highest price per unit ever paid for a conventional market product in Tucson’s multifamily sales history.
Galeria Del Rio consists of 3 and 4 Bedrooms, and 2.5 Bathrooms designed signature rental townhome style units. All units contain two-car attached garages, granite countertops, breakfast bars, elegant wood cabinets, black kitchen appliance packages and brushed nickel fixtures. The average unit size is 1,573 square feet, which are the largest floor plans for conventional rental communities in all of Pima County.
