The first student-housing towers constructed on the corner of Speedway and Park Avenue have sold to national student housing owner-operator Nelson Partners for $200 million.
Sol y Luna, the adjacent towers at 1031 N. Park Ave. and 1020 N. Tyndall Ave., have a combined 341 units and 977 beds for rent.
Built in 2013 and 2014, Sol y Luna also have more than 9,000 square feet of retail space on the ground floors.
“We’re extremely excited to have acquired one of the most compelling and premier student housing properties not only in the Arizona market, but in the entire PAC 12,” said Patrick Nelson, founder and chief executive officer of Nelson Partners.
Nelson Partners has about 35 student-housing properties across 13 states totaling more than $800 million in assets under management and $400 million in development.
Other recent commercial transactions include:
- Jet Wash at 22nd LLC bought 2,802 square feet at 4702 E. 22nd St. from CF Holdings LLC for $1 million. Rob Tomlinson, with Picor, represented the seller and Jeff DeConcini, with DeConcini Realty, represented the buyer.
- 4576 Investment Group LLC bought a 963-square-foot building on approximately 2,283 square feet of land at 4570 E. Camp Lowell Drive from Henderson & Winder LLC. for $190,000. Hank Amos, of Tucson Realty & Trust Co., represented the buyer and Buzz Isaacson, with Buzz Isaacson Realty LLC, represented the seller.
- Catalina Coffee LLC bought .70 acres of commercial land at 1545-1551 W. Wetmore Road from Matthew J. and Bernadette T. Giustino for $130,000. Max Fisher and Ramiro Scavo, with Picor, represented the seller. John Hamner and Julian Willetts, with RE/MAX Excalibur, represented the buyer.
- C.R. Powers LLC, doing business as New 2 You, leased 2,800 square feet in 22nd Street Center, 4501-4525 E. 22nd St., from RRN Inc. Ramiro Scavo and Max Fisher, with Picor, handled the transaction.
- Johansen Fence and Gate LLC leased 2,770 square feet of industrial space at 2026 E. 14th St. from Richard A. Rosenthal. Picor’s Max Fisher handled the transaction.
