Treehouse Apartments ( SOLD )
TUCSON | ARIZONA
ABOUT THE ASSET
Caliber sold the Tree House Apartments in February 2021 for $23,000,000.
Acquired in April 2014 for $4,800,000, this 167-unit property was acquired roughly 70% below its replacement cost. With a renovation budget of $9,000,000, Caliber converted the property from a Class C Workforce property to a Class A property.
The renovations to this asset completed in July of 2016. The project included adding new cabinets, counter tops, and in-unit washers and dryers. Numerous improvements to the community’s amenities including renovating the pool, adding fire features, BBQ-area, and community clubhouse, complete with flat screen TV’s and a full kitchen were completed.
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