Sperry Van Nees negotiates sale of 238 unit apartment complex in Tucson, AZ

Phoenix, AZ – April 4, 2012 – (RealEstateRama) — Sperry Van Ness, LLC facilitated the sale of Bear Canyon Apartments, located at 9055 E. Catalina Hwy in Tucson, Arizona. The Class A luxury apartments sold at 5.87% Cap Rate on in place numbers, highest cost per unit in recent years on March 21, 2012. The 238-unit property consists of 19 buildings built in 1996 and situated on approximately 13.5 acres with Santa Catalina Mountain Views. The Seller was Arbor Realty Trust, Inc., and the Buyer was HSL Properties, Inc.

Sperry Van Ness – SVN Partners is a full-service commercial real estate services firm providing comprehensive expertise in investment brokerage, leasing, landlord/tenant representation, analysis/valuation and market research. We specialize in multifamily, retail, office, medical/dental, and restaurant property types.

Our goal is to provide the highest level and broadest selection of services by leveraging industry knowledge through strategic partnerships and crafting our skills to pursue every viable opportunity to deliver the best results for our clients.