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Jul 23, 2019

Tucson Real Estate: Investors continue snapping up apartment complexes

Arizona Daily Star
July 22, 2019
By Gabriela Rico

Tucson-area apartment complexes continue to be a hot commodity for investors logging several recent sales.

A Massachusetts-based investment company bought The Canyons at Linda Vista Trail, a 228-unit luxury complex, for $41.2 million.
The gated community sits on 13 acres at 9750 N. Oracle Road and offers one- to three-bedroom units with nine-foot ceilings, hardwood floors and quartz countertops.

It is Northland Investment Corp.’s fourth purchase in the Tucson area, which has been a top performing market for the firm in the past two years.
“We are thrilled to be adding The Canyons at Linda Vista Trail to our portfolio in a market where we have experienced great success and see continued room for growth and expansion, given high demand and currently low levels of supply,” said Matthew Gottesdiener, chief investment officer for Northland.

The Canyons at Linda Vista Trail acquisition brings Northland’s multifamily portfolio to nearly 1,800 units locally. The firm also owns Villas at San Dorado, the Hilands complex at 5755 E. River Road and Promontory apartments at 60 W. Stone Loop.

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