Midtown on 1st apartment complex has been sold to investors for $13.6 million.

The hot streak continues for Tucson’s multifamily market.

California investors bought the 93-unit INDI Tucson apartment complex, at 1920 N. First Ave., for $8 million.

Built in 1972, the property has four two-story buildings on 2.9 acres of land. Amenities include two swimming pools, spa, laundry facilities and outdoor lounge with fire pits.

Buyers were attracted to its proximity to the University of Arizona.

ABI Multifamily’s Alon Shnitzer, Rue Bax, John Kobierowski, Doug Lazovick, and Eddie Chang represented both parties in the sale.

The buyer, APT Capital Group, led by managing partners Kyle Mitchell and Gary Lipsky, is based in California. The seller is a private investment group based in California.

Low vacancy rates and high demand for rentals have kept investors active in the Tucson area this past year.

Other recent commercial transactions include:

  • Glenn3 LLC and ASD LLC bought a 10,410-square-foot medical office in the Glenn Medical Center, 5150 E. Glenn St., from Sunrise Properties Leasing LLC for $3.2 million. Richard M. Kleiner, with Picor, represented the seller.
  • Gateway Apartments LP purchased 2.11 acres of commercial land in Oracle Gateway Plaza, on the northeast corner of Oracle Road and Drachman Street, from Oracle Gateway LLC for $1.4 million. Ron Zimmerman, with Picor, represented the seller and Jason Hisey, with Stonecorner Real Estate and Development Inc., represented the buyer.
  • EMZ Equity Group LLC bought the 24-unit North Alvernon Apartments at 2053 N. Alvernon Way, from AZDA LLC for $1.3 million. Allan Mendelsberg and Conrad Martinez, with Picor, represented both parties.
  • CRE Higley Park bought a 14,986-square-foot industrial building in Butterfield Business Center, 4650 S. Butterfield Drive, from Brey Holdings for $1.2 million. Robert C. Glaser and Ron Zimmerman, with Picor, handled the transaction.
  • BRInc Colonial LLC bought the 19-unit Colonial Villas Apartments, 301 E. Helen St., from Shakin Mendelsohn 2004 Trust for $1.1 million. Picor’s Allan Mendelsberg and Conrad Martinez represented both parties.
  • Refrigeration Supplies Distributor bought 14,000 square feet of industrial space at 2101-2103 E. 19th St. from CC Financials LLC for $975,000. Robert C. Glaser and Max Fisher, with Picor, represented the seller. Jason Ward with Cushman & Wakefield, Irvine, represented the buyer.
  • Arizona Oral and Maxillofacial Surgeons bought 0.60 acres of vacant land at 16045 S. Rancho Sahuarita Blvd. from Rancho Sahuarita XX LLC for $550,000. Aaron LaPrise and Dave Hammack, with Picor, represented the seller. Karen Farrell, with Venture West, represented the buyer.
  • TMC Healthcare leased 82,058 square feet of medical office space from HSRE-MPCCA Tucson MOB II LLC, in the El Dorado Health Campus, 1398-1400 N. Wilmot Road. Richard M. Kleiner, with Picor, represented the tenant.
  • Jet Sports LLC leased 6,301 square feet of industrial space at 4221 S. Santa Rita Ave. from Ronald W. Brown Trust. Paul Hooker, with Picor, represented the landlord and Chris Itule, with NAI Horizon, represented the tenant.

Former Star reporter Doug Kreutz made many videos showing off the Tucson area's lovely outdoors. Here are some that will help you soothe your soul.


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Information for Tucson Real Estate is compiled from records at the Pima County Recorder’s Office and from brokers. Send information to Gabriela Rico, grico@tucson.com