Tucson apartments sold

Marcus & Millichap negotiated the sale of the 260-unit Columbus Village Apartments in Tucson, Ariz.

The transaction was valued at $13.3 million.

Columbus Village Apartments is located at 1502 S. Columbus Blvd. The low-density property was constructed in 1981 and has undergone more than $2 million in capital improvements since 2001. Community amenities include a playground, swimming pool, spa, covered parking and private patios/balconies.

The sale includes 257,140 rentable square feet on 9.27 acres. The unit mix consists of 130 two-bedroom and 130 three-bedroom apartments. The units range in size from 932 to 1,046 square feet.

A Phoenix-based private investor sold the property to a Southern California-based investment partnership.

Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage.

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