(To read more on the multifamily market, click here.)
TUCSON-Continuing its swath of activity across Arizona, S-JManagement LLC will invest $21.8 million into its first multifamilybuy inside the city line. A September closing is planned for the196-unit Springs at Continental Ranch.
The Seattle-based investor's inroad is a fully leased, class Adevelopment at 7901 Cortano Rd. near Oro Valley. According to SteveKoz with Capstone Funding LLC of Phoenix, S-J opted to push intoTucson because of the growing demand for housing. "We're strong inthe Phoenix market, but we really like the Tucson market too," saysKoz, whose company is partnering with S-J Management for theSprings and upcoming deals as well.
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