TUCSON—Berkadia facilitated the sale of Avilla River, located at 1000 W. River Rd. in Tucson. The seller was Alta Vista Communities RR LLC, of Tucson; the buyer was Amherst Exchange Corporation of Santa Barbara.
Berkadia senior partner Art Wadlund and associate Clint Wadlund of the Tucson office negotiated the transaction. Avilla River sold for $11.4 million. The sales price reflects a per-unit price of $150,000, or $153 per square foot.
Built in 2013, the class A, 76-unit property features one-, two- and three-bedroom floor plans. The two- and three-bedroom apartments are stand-alone units. Each unit features fully equipped kitchens, washers, dryers, air conditioning, 10-foot ceilings, patio, and cable and internet access.
The community is located near Oracle Road, providing residents access to the entire Tucson area. The Tucson Mall is one mile from the property and a major employer in the area.
Representatives from Berkadia were not available for comment.
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