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TUCSON, ARIZ. — Monarch Investment and Management Group has completed the disposition of Yardz on Kolb, an apartment complex located in Tucson. Greenwater Real Estate Management acquired the asset for $65.5 million, or $159,756 per unit.
Constructed between 1972 and 1974 on 17-plus acres, Yardz on Kolb features 410 garden-style apartments.
Hamid Panahi and Steve Gebing of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.