Wednesday, July 17, 2024

‘484-Bed Student Housing Community Near University of Arizona Sold by Real Estate Brokers’


A student housing community in Tucson, Arizona known as The Parker has recently been sold in a transaction brokered by CBRE. The property, which is located near the University of Arizona’s Fox School of Music, consists of 484 beds and boasts LEED Silver certification.

The seller, a partnership between The Dinerstein Cos. and Harrison Street, was represented by Jaclyn Fitts, William Vonderfecht, Casey Schaefer and Jeff Casper of CBRE. The buyer, Inland Prime Capital of Oak Brook, acquired the property with the help of Mark Cosenza and Brett Smith of Inland Real Estate Acquisitions.

The exact sale price was not disclosed, but reports indicate that The Parker was sold for 2.5 million. The community offers fully furnished units ranging from one to six bedrooms, with many units featuring bed-to-bath parity. Residents can enjoy shared amenities such as study spaces, a social lounge, fitness center, community kitchen, turfed courtyard, fire pit, corn hole boards, and a rooftop swimming pool.

Additionally, the property includes retail space that is currently occupied by Chase Bank. With its prime location near the university and a wide range of desirable amenities, The Parker is sure to remain a popular choice for students seeking housing in Tucson.

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