COVID-19 Statement from ABI Multifamily

As we all navigate these unprecedented and challenging times, we want you to know that we are working hard to maintain effective business operations and open channels of communication with all of our clients. Fortunately, we utilize and rely on technology as the backbone of operations for ABI. Our digital systems and virtual communications capabilities have allowed us to seamlessly and efficiently transition to a mostly remote working model. We are operating with our full capabilities and continue to provide the responsive and timely feedback we are known for.

Our team remains fully committed to providing our expertise in brokerage and advisory services, and serving as a resource for all relevant data and information. We will continue to help multifamily stakeholders make sound decisions in real-time, maintain maximum performance of their investment assets, and synthesize immediate, short, and long-term goals throughout this highly unusual time.

Quite simply - WE ARE HERE FOR YOU - in the best of times and the worst of times. Our seasoned advisors have been through it all. In our business, rents and occupancy are the pillars to stability. We are tracking both and can help you stay ahead of the changes in your submarkets.

It is time to think and act fast so reach out to one of our brokers over the phone or email. At the very least, you will enjoy a good conversation during these socially distant moments. We are all in this together. Here’s to strong health and rapid resolutions to the variety of challenges we collectively face. More power to all of you!

- The Team at ABI Multifamily

Press Release | ABI Multifamily Brokers $10.55M Apartment Sale in Casas Adobes Neighborhood of Tucson, AZ

ABI Press Releases, Alpha Wave Investors, Arizona, multifamily investment, Orange Tree Village Apartments, Tucson apartment sale, Tucson Metro, Tucson MSA

Orange Tree Village Apartments | 645 West Orange Grove Road, Tucson, AZ 85704 | 110 Units | Built in 1981 | $10,550,000 | $95,909 Per Unit | $75.28 Per SF Orange Tree Village Apartments | 645 West Orange Grove Road, Tucson, AZ 85704 | 110 Units | Built in 1981 | $10,550,000 | $95,909 Per Unit | $75.28 Per SF

PRESS RELEASE
FOR IMMEDIATE RELEASE

Contact:
Corporate Headquarters
ABI Multifamily
Phone: 602.714.1400
Company Website: www.ABImultifamily.com

ABI Multifamily Brokers $10.55M Apartment Sale in Casas Adobes Neighborhood of Tucson, AZ



Phoenix, AZ – March 21, 2018 – ABI Multifamily, the Western US's leading multifamily brokerage and advisory services firm, is pleased to announce the $10,550,000 / $95,909 Per Unit sale of the Orange Tree Village Apartments located in Tucson, Arizona. Orange Tree Village is a lower density one and two story, townhome-style apartment community, which was completed in 1981. The property was built of wood frame and stucco, with pitched tile roofs. The property boasts an attractive mix of (20) 1-bedroom, (66) 2-bedroom and (24) 3-bedroom unit types with a weighted average size of 1,274 square feet and all units offer private entries and backyards. In addition, all units are individually metered for electricity and contain individual hot water heaters.

"This property met all of the buyers' investment criteria," states Alon Shnitzer, Senior Managing Partner, and lead broker for the buyer, Alpha Wave Investors, in this transaction. "Alpha Wave is an experienced opportunistic, value add investor who has aggressively pursued opportunities in Tucson. The buyer plans to invest over $2,000,000 in capital upgrades, including new paint, roofing, fitness center, children's playground, dog-park, upgraded pool and clubhouse and numerous interior unit renovations. Given Tucson's job and population growth demand drivers and significant lack of new construction, the city has and will continue to be in high demand for quality rental housing."

"The seller was a private Texas-based investor who developed the property back in the early 80's," states Jon Ibrahim, Vice President with ABI, and lead broker for the seller. "It is very rare to find a seller that has held a property this long and especially on a property that has this many unique and favorable characteristics."

The seller is a private Texas-based investor and original developer of the property.

The buyer, an entity formed through Alpha Wave Investors, LLC, is a private investment company based in Laguna Hills, CA.

ABI Multifamily is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. With offices in Phoenix, Tucson and San Diego, the experienced advisors at ABI Multifamily have completed billions of dollars in sales and thousands of individual multifamily transactions. ABI Multifamily incorporates a global approach with regional real estate expertise to successfully complete any multifamily transaction, regardless of size and complexity.