Staff Reports | Business & Commerce
Cushman & Wakefield announced it arranged the sale of Wildcat Canyon Village, a 76-unit, 128-bed student housing community at 1050 E. 8th St. in Tucson.
The property sold for $8 million, according to a press release.
Steven Nicoluzakis and David Fogler of Cushman & Wakefield represented the seller, Federal Home Loan Mortgage Corporation (Freddie Mac). The buyer was Campus Investco LLC.
“This previously lender-owned community represents a significant value-add opportunity for repositioning and growth in the Tucson student housing market,” said Mr. Nicoluzakis.
Built in 1968, the community features 128 beds and offers potential to expand to 164 beds through unit conversions. Ownership can either legalize converted three-bedroom units or revert to the original mix to meet market demand.
Wildcat Canyon Village amenities include a swimming pool, basketball court, picnic area with barbecue grills and a coffee bar.
The property also offers controlled access, package lockers, a laundry facility and free resident parking. It is within walking distance of the University of Arizona and surrounded by retail, dining and entertainment options.
