July 25, 2022
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Lenders pack away capital into self storage
Count on a strong lender appetite for self-storage properties going forward. Self storage has moved to the top of many lenders’ lists, as this asset generally performs well during a recession or downturn. Lease-up in the sector has been stronger than predicted and tenants tend to be “sticky” and not to move much, which typically gives the property a consistent revenue stream. More
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IPA closes record north Tucson Multifamily property sale
International Property Advisers, a division of Marcus & Millichap, has sold Hilands, a 826-unit multifamily asset in Tucson, Ariz. The $178 million sales price, which represents $215,496 per unit, is the highest single-asset multifamily transaction in Tucson history. “The largest multifamily asset in Pima County and only one of 11 garden-style multifamily assets larger than 100 units in More
