Seattle, WA — TMR Investments (TMR) is pleased to announce the successful sale of Circ Tucson Apartments, a 368-unit multifamily community located in the Casa Adobes neighborhood of north Tucson, Arizona. This milestone marks the culmination of a successful ownership journey beginning in July 2019, when TMR acquired the property.
While the specific financial details remain confidential, this transaction ranks as the largest sale of an 80+ unit multifamily residential property in the Tucson market since 2023. Further, the per unit valuation reflects a significant premium above the year-to-date average per unit for comparable transactions, underscoring the property’s strong market positioning and appeal. The IPA Tucson Team brokered the deal.
Over the past six years, TMR heavily invested in capital improvements, revitalizing the property and significantly enhancing the resident experience. Key upgrades included:
- Renovation of 240 units featuring modern, market-leading finishes
- A redesigned clubhouse and upgraded fitness center
- Enhanced amenity spaces, including pool and spa upgrades and installation of electric vehicle charging stations
- A full brand refresh, introducing the Circ Tucson identity to reflect the community’s vibrant, contemporary lifestyle
“Our vision for Circ Tucson was to revitalize this apartment community through a strategic and stylish renovation program and deliver inspired work force housing to the Casa Adobes neighborhood,” said Ryan Sheridan, Principal at TMR. “We’re proud of the transformation and grateful for the positive response from residents and the local community.”
The sale of Circ Tucson underscores TMR’s commitment to creating long-term value through thoughtful investment, innovative design, and community-focused development. The property’s repositioning not only elevated its market presence but also enhanced the overall appeal of the immediate neighborhood.
About TMR Investments
Headquartered in Seattle, Washington, TMR Investments is a sponsor of multifamily partnership investments specializing in value-add opportunities. With a current portfolio spanning five states and over 3,500 units valued at more than $845 million, TMR is dedicated to protecting and growing investor capital while delivering safe, clean, and inspired housing at competitive rental rates.
TMR’s disciplined business practices, conservative investment parameters, and hands-on asset management have consistently produced outstanding returns. Since its founding in 1981, the company has closed more than $1 billion in multifamily transactions—without a single capital loss—generating strong cash flow and capital gains for its investors.