TUCSON | ARIZONA
ABOUT THE ASSET
This 167-unit property was acquired by Caliber in April of 2014 for approximately $4.8 million, roughly 70% below its replacement cost. With a renovation budget of $7,000,000, Caliber converted the property from a Class C Workforce property to a Class A style property. Renovations were completed in July of 2016 and included new cabinets and counter tops, addition of in-unit washers and dryers, and improvements to community amenities such as a pool with fire features and BBQ, and a clubhouse complete with flat screen TV’s and a full kitchen. Caliber turned over management of the property to 3rd party MEB Management in Q1 of 2018.