Sale of adjacent apartment communities closes

Majority of units feature 2-3 bedrooms

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Sperry Van Ness arranged the sale of the Casa Dorinda Apartments and Mira Vista Apartments, two adjacent, separately parcelized apartment communities totaling 251 units in Tucson, Ariz. California-based Casa Dorinda LP sold the properties for a combined total of $22.5 million to San Francisco-based Prime Group. Situated on 16.6 acres, Casa Dorinda and Mira Vista are located respectively at 7576 and 7596 N. Mona Lisa Road. Built in 1995, Casa Dorinda is comprised of three one-story and 12 two-story buildings with a stand-alone rental office and fitness center. Mira Vista was completed in 1998 and is comprised of two one-story and 10 two-story buildings, also with a stand-alone rental office and fitness center. The majority of the 251 units are two and three bedrooms, and the communities were 95 percent occupied at the close of escrow. Amenities in both communities include a clubhouse with a kitchen, pool, spa, computer room and barbeque area. Sperry Van Ness is one of the largest co...