One large complex and a small “mansion” that provide student housing near the University of Arizona have been bought by investors.
New York City-based Vesper Holdings bought the two-tower high-rise Sol y Luna, on Park Avenue and Speedway, from Nelson Partners Student Housing for $203 million.
Brad Cooke, from Colliers, represented the seller, and Vesper was advised by Tim Bradley, with TSB Capital Advisors.
Sol y Luna, built in 2014, has 340 units with 972 beds for rent. Unit sizes range from studios to five bedrooms.
“This asset is a perfect companion to the other properties in our portfolio and gives us a presence in a market where we have hoped to be for quite some time,” said Elliott Tamir, Vesper Holdings Co-Founder and Co-CEO.
Meanwhile, just up the road, local investors bought The Mansion student housing, a 3,584-square-foot property at 2136 N. Euclid Ave., for just over $1 million.
The seven-bedroom property, with 7.5 bathrooms was bought by Heather and Christopher Stevens from ZDC Properties LLC.
New York City investors bought the Sol y Luna student housing, near the University of Arizona, for $203 million.
Allan Mendelsberg and Conrad Joey Martinez, with Picor, represented the seller and Russell R. Murphy, with Russel R. Murphy Ltd., was the buyer’s broker.
Heather Stevens, said she and her husband plan to continue operating it as student housing.
“It’s fully occupied, and we are already pre-leasing,” she said. “We like the location and the unique property because of the mural.”
Other local commercial transactions include:
Pointe Apartments LLC bought The Pointe Apartments, a 25-unit complex at 2152 N. Country Club Road for $3.8 million. Allan Mendelsberg and Conrad Joey Martinez, with Picor, represented both the buyer and the seller, 2152 Country Club LLC.
Salsa Verde Restaurant will open a second location at 3894 N. Oracle Road and is expected to open this month. Craig Finfrock of Commercial Retail Advisors LLC represented the landlord, 3838 Oracle Plaza Joint Ventures LLC.
Vantage West Credit Union leased 3,124 square feet for a new branch at The Landing, 4850 S. Landing Way, from Irvington Interstate Partners North LLC. Richard M. Kleiner, with Picor, represented the tenant and McKay Stevens, with Bourn Advisory Services LLC, represented the landlord.
LionHeart Security Services leased 1,000 square feet at 3320 N. Country Club Road, offering businesses and homeowners security services. LionHeart is insured and licensed by the State of Arizona and Department of Public Safety. The new branch opens this month.
