TUCSON—Berkadia has closed on three multifamilyproperties in Tucson: Pantano Park, located at 200 S. Pantano Rd.;Woodridge, located at 8225 E. Speedway Blvd.; and El Conquistador,located at 1881 E. Irvington Rd. Senior managing directorArt Wadlund and associate ClintWadlund of the Tucson office negotiated thetransactions.

Clint Wadlund tells GlobeSt.com, “Interestrates are creeping up a little bit, but there are some programs inplace in that $7 million range that are helping with that. Overallthe market is healthy. People are coming to Tucson chasing thatyield. Of course we would like to see more job growth here—we'realways looking for job growth. One great thing about Tucson is thatit doesn't have the highs and lows like Phoenix; the market is lesscyclical. People can come here and get that cash flow.”

Pantano Park sold for $7.2 million. The sales price reflects aper-unit price of $53,015, or $71 per square foot. AssociateRick Salinas of Berkadia's San Francisco officearranged financing.