GREEN VALLEY, ARIZ. — FSO Capital Partners has sold Sahuarita Mission in Green Valley to WNC Apartment Ventures for $8.8 million. Northmarq arranged the sale. The 52-unit property was developed as affordable housing in 2000. Today, five units are leasing at affordable rates, reserved for renters earning at or below 50 to 60 percent of area median income (AMI). These rent restrictions are in place until July 2030. WNC Apartment Ventures is an affordable housing real estate investment firm based in Cypress, California. Sahuarita Mission is located approximately 25 miles south of Tucson.
Northmarq’s Phoenix investment sales team, including Trevor Koskovich, Jesse Hudson, Ryan Boyle and Logan Baca, brokered the deal on behalf of the seller. Northmarq’s debt and equity team, consisting of Bryan Mummaw, Bryan Liu, Brandon Harrington, Christopher Gitibin, Brad Burns and Tyler Woodard, provided financing for the buyer by securing a $5.9 million loan through Freddie Mac.
Sahuarita Mission comprises four two- and three-story buildings on 2.9 acres of land. The community offers two- and three-bedroom units and amenities such as a community clubhouse, playground, picnic area with grill and laundry facilities. Individual units feature walk-in closets, automatic dishwashers and a balcony or patio.