Tucson's Largest Apartment Complex Sells for $20.85 Mil.

TUCSON-A non-profit group has purchased for $20.85 million the largest apartment complex in the city and plans to turn it into a full-service retirement center.

By D.J. Burrough | October 18, 2000 at 01:01 AM

The non-profit company, sponsored by the non-denominational Christian Churches of Arizona, operates a number of retirement housing centers in the state. The non-profit has renamed the complex Fellowship Square and plans to spend more than $2 million to completely refurbish the property, including the addition of an 11,000-sf dining and recreational facility. Chicago-based Equity Residential Trust was the seller.

The Phoenix and Tucson offices of CB Richard Ellis represented the seller in the negotiations.

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

1 Tariffs Trigger Sharpest Drop in CRE Confidence Since Pandemic

2 Class B Malls Offer Prime Redevelopment Opportunity

3 Offices are Landing in Special Servicing Despite Strong Occupancy and Rent

4 Banks, Auto Parts Stores Lead Retail Cap Rate Declines

5 Office Distress Finally Starts Knocking on Investors’ Doors

Real Estate
GlobeSt. ELITE Women of Influence (WOI) 2025
July 21, 2025 - Denver

GlobeSt. Women of Influence Conference celebrates the women who drive the commercial real estate industry forward.
More Information
Real Estate
GlobeSt. Multifamily Fall 2025
October 15, 2025 - Los Angeles

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!
More Information
Workers' Compensation Risk Management Award for Excellence Nominations
May 05, 2025 - Nomination Deadline

The 2025 Workers Comp Risk Management Award for Excellence honors outstanding loss control, safety and return-to-work programs.
More Information

Southeast Apartment Market Faces Looming Slowdown as Permits Plunge

By Kristen Smithberg | April 25, 2025

Absorption reached an apex of 56,000 units during the first quarter.

Southeast Apartment Market Faces Looming Slowdown as Permits Plunge

Building Permits for Housing in Los Angeles Drops by 57%

By Jack Rogers | April 25, 2025

Building costs are rising as tariffs make it difficult to price new construction projects.

Building Permits for Housing in Los Angeles Drops by 57%

Jacksonville’s Multifamily Sector Absorbs Record Units Amid Supply Pullback

By Anthony Russo | April 25, 2025

While rents were a little softer, that's expected to change later in 2025.

Jacksonville’s Multifamily Sector Absorbs Record Units Amid Supply Pullback

Leveling Up: Choosing the Best Renters Insurance Partner for Your Multifamily Housing Portfolio link

Guide

Sponsored by Assurant

Leveling Up: Choosing the Best Renters Insurance Partner for Your Multifamily Housing Portfolio

Picking the right renters insurance can be a headache. This guide will help you find the perfect partner for your multifamily properties so you can boost resident participation and lower your risk.

Browse More Resources ›

The Return to Office: Recovery Still Underway link

Guide

Sponsored by Placer.ai

The Return to Office: Recovery Still Underway

Are you noticing unexpected shifts in office occupancy and commuter behavior? This report reveals how evolving work patterns are challenging CRE brokers and offers crucial, data-backed insights for 2025. Discover a detailed analysis of office visit fluctuations, an in-depth look at midweek work trends, accurate forecasts for market recovery, real-world examples to inform strategic decisions, and actionable metrics to guide client advising. Download your copy today!

Browse More Resources ›

The State of Commercial Property Management Technology in 2025 link

Report

Sponsored by Building Engines

The State of Commercial Property Management Technology in 2025

Commercial property teams are navigating changing times where technology plays a crucial role in operations, tenant satisfaction, and sustainability. This report, based on insights from 370 industry professionals, reveals the biggest priorities, challenges, and opportunities for CRE technology adoption in 2025. Don’t miss it.

Browse More Resources ›