TUCSON—Berkadia has closed on three multifamily properties in Tucson: Pantano Park, located at 200 S. Pantano Rd.; Woodridge, located at 8225 E. Speedway Blvd.; and El Conquistador, located at 1881 E. Irvington Rd. Senior managing director Art Wadlund and associate Clint Wadlund of the Tucson office negotiated the transactions.

Clint Wadlund tells GlobeSt.com, “Interest rates are creeping up a little bit, but there are some programs in place in that $7 million range that are helping with that. Overall the market is healthy. People are coming to Tucson chasing that yield. Of course we would like to see more job growth here—we're always looking for job growth. One great thing about Tucson is that it doesn't have the highs and lows like Phoenix; the market is less cyclical. People can come here and get that cash flow.”

Pantano Park sold for $7.2 million. The sales price reflects a per-unit price of $53,015, or $71 per square foot. Associate Rick Salinas of Berkadia's San Francisco office arranged financing.