TUCSON—Radium Investments I LLC of Phoenixpurchased Posada del Rio, located at 7424 E. Speedway Boulevard,from Rio Properties LLC of Tucson. ArtWadlund and Clint Wadlund ofHendricks-Berkadia's Tucson office negotiated thetransaction. Posada del Rio sold for $8.1 million. The sales pricereflects a per-unit price of $50,625, or $82 per square foot. Theproperty closed escrow at a cap rate of 6.95%.

Built in 1980, the 160-unit property features one- andtwo-bedroom floor plans and is situated on approximately 4.4 acresof land. Additionally, the property amenities include a clubhousewith a kitchen and billiards table, recreation center, heatedswimming pool, spa, fitness center and laundry facilities. Eachunit offers air conditioning, fully equipped kitchens, privatebalconies or patios, walk-in closets, washer/dryer connections andcable-access. Select units include wood-burning fireplaces, ceilingfans and storage. Washers and dryers are also available forrent.

The asset is close to Interstate 10, providing residents accessto the entire Tucson area. Posada del Rio is less than two milesfrom Dorado Country Club Golf Course and seven miles fromUniversity of Arizona. Top employers in the immediate area includeDavis-Monthan Air Force Base, St. Joseph's Hospital, Afni andHealth Net of Arizona.