TUCSON—Berkadia closed the sale of The Place at Tierra Rica, a multifamily property located at 3201 and 3225 W. Ina Rd. in Tucson. Senior managing director Art Wadlund and associate Clint Wadlund of the Tucson office facilitated the sale. The property sold for $14.3 million.The sale price reflects a per-unit price of $49,479, or approximately $69 per square foot.

The buyer was Aspen Square of West Springfield, MA. The seller was MC Companies of Scottsdale.

Clint Wadlund tells GlobeSt.com, “We're seeing a lot of interested parties looking to chase that yield in Tucson. Cap rates are low in other markets; the Tucson market is getting stronger—there is a healthy lure there with employment gains.”