Location
Tucson, AZ
Acquired
2021
Units
338
Acquisition Price
$69,300,000
Capital
$31,900,000
Status
Holding
Desert Shadows Apartments 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.
Desert Shadows 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.
‹ Back to Track Record