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Sparro

Tucson, AZ

Sparro

Overview

Location

Tucson, AZ

Acquired

2021

Units

338

Acquisition Price

$69,300,000

Capital

$31,900,000

Status

Holding

Sparro Apartments, formerly known as Desert Shadows, enjoys a premier location in the upscale Casas Adobes submarket in North Tucson, an area known for its proximity to major employers. With attractive floor plans, large amenities spaces, and a superior location, the property is a classic value-add opportunity.  

Sparro has been well maintained since it was built in 1985. Prior ownership recently completed a $1.2 million light renovation of the clubhouse and fitness center, which will allow TMR to accelerate its repositioning efforts and focus heavily on unit interiors. TMR plans to capture the property’s remarkable untapped potential with a $6,700,000+ renovation that will deliver high-quality rental product to the area. 

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