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 | Four Converted Motel-to-Apartment Properties Sell for $1.35M in Tucson

ABI Press Releases, Arizona, Benson Hwy Portfolio sale, investment sale, Lance Parsons, Tucson Metro, Tucson multifamily

Tucson 55 Portfolio | 1431, 1951, 2015 & 2027 East Benson Hwy, Tucson, AZ 85714 | 55 Units | Built in 1948 and 1976 | $1,347,500 | $24,500 Per Unit | $46.07 Per SF Tucson 55 Portfolio | 1431, 1951, 2015 & 2027 East Benson Hwy, Tucson, AZ 85714 | 55 Units | Built in 1948 and 1976 | $1,347,500 | $24,500 Per Unit | $46.07 Per SF
PRESS RELEASE
FOR IMMEDIATE RELEASE
Contact:
Corporate Headquarters
ABI Multifamily
Phone: 602.714.1400
Company Website: www.ABImultifamily.com

Four Converted Motel-to-Apartment Properties Sell for $1.35M in Tucson


Tucson, AZ – September 27, 2017 – ABI Multifamily, the Western US's leading multifamily brokerage and advisory services firm, is pleased to announce the $1,347,500 | $24,500 Per Unit sale of the Tucson 55 Portfolio, comprised of (4) separate converted motel-to-apartment communities off Benson Hwy in Tucson, AZ. Built between 1948 to 1976, all properties are of single story, frame and stucco construction. The properties feature a good mix of sleeping rooms, studios, one-, two-, and three-bedroom unit types with an average adjusted size of 531 square feet. All units are furnished with all utilities paid and rented on a month-to-month basis.

"The Tucson 55 portfolio features well maintained assets located along Tucson's heavily trafficked Benson Hwy. Additionally, the properties are less than a few miles from the University of Arizona, Downtown Tucson and the airport," states Lance Parsons, Senior Vice President at ABI. "The Buyer was looking for a solid performing portfolio in a good location which this provides at a CAP rate above 9%."

The Seller is a private multifamily investor based in Arizona.

The Buyer is a private multifamily investor based in Arizona.

ABI Multifamily's Tucson office led by Lance Parsons, CCIM represented both the Seller and Buyer in this transaction.

ABI Multifamily is a brokerage and advisory services firm that focuses exclusively on apartment investment transactions. 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.