TUCSON, ARIZ. — CORE Real Estate Capital and Rincon Capital Partners have acquired Woodridge Apartments, a multifamily property located at 8225 E. Speedway Blvd. in Tucson. Terms of the transaction were not released.
Built in 1981 on 6.2 acres, the community features 204 apartments. At the time of sale, the property was more than 95 percent occupied. Over the next two years, the new owners plan to rebrand the property and invest up to $3.6 million to remediate deferred maintenance, renovate common areas, upgrade interiors and improve landscaping.