The Parker Tucson, located adjacent to the University of Arizona campus, recently set a new record sale price of $132.5 million ($1.02 million per unit). This translates to $274,896 per bed for the eight-story complex which offers 130 units and 213,000 square feet of living space.
According to Real Estate Daily News, Sterling University Housing developed this property after acquiring the land from Chase Bank in 2019 for $16.67 million at Park Ave and First Street. The buyer is an affiliate of Inland Prime Capital.
With a variety of room options ranging from studio to five bedrooms, this property was almost fully occupied at the time it was sold.
Amenities include a rooftop deck with hot tubs and a large pool featuring in-pool chaise lounge seating as well as poolside cabanas and outdoor TVs. Additionally,a fully-equipped outdoor kitchen is available for residents’ use along with an on-site Chase Bank branch on the ground floor.
Leading CBRE’s team representing the seller was Jeff Casper who facilitated this impressive transaction.
