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Radium Grabs Tucson Multifamily

TUCSON—Radium Investments I LLC of Phoenix purchased Posada del Rio, located at 7424 E. Speedway Boulevard, from Rio Properties LLC of Tucson .

By Kristian Seemeyer | Updated on June 12, 2014

TUCSON—Radium Investments I LLC of Phoenix purchased Posada del Rio, located at 7424 E. Speedway Boulevard, from Rio Properties LLC of Tucson. Art Wadlund and Clint Wadlund of Hendricks-Berkadia‘s Tucson office negotiated the transaction. Posada del Rio sold for $8.1 million. The sales price reflects a per-unit price of $50,625, or $82 per square foot. The property closed escrow at a cap rate of 6.95%.

Built in 1980, the 160-unit property features one- and two-bedroom floor plans and is situated on approximately 4.4 acres of land. Additionally, the property amenities include a clubhouse with a kitchen and billiards table, recreation center, heated swimming pool, spa, fitness center and laundry facilities. Each unit offers air conditioning, fully equipped kitchens, private balconies or patios, walk-in closets, washer/dryer connections and cable-access. Select units include wood-burning fireplaces, ceiling fans and storage. Washers and dryers are also available for rent.

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