TUCSON, ARIZ. – Chartwell Capital Partners LLC has acquired the 428-unit Tanque Verde apartment complex in Tucson for $21.3 million. The community is located at 7671 E. Tanque Verde Road.
Tanque Verde was 94 percent occupied at the time of sale. The community was originally developed in two phases in 1979 and 1981. So far, 38 units have been upgraded with new appliances, new cabinets, resurfaced countertops, upgraded fixtures, flooring, mirrored closet doors, microwave oven/hoods and other improvements.
The community is situated across from Morris K. Udall Park. It is also near Sabino Canyon and the Mt. Lemmon Recreation Area.
The seller, Holualoa Companies, was represented by CBRE’s Michael Sandahl, Wyatt Campbell Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch.