TUCSON, ARIZ. — Alpha Wave Investors, a private equity investment firm, has completed the disposition of Skyline Park Apartments, a multifamily property located at 5290 S. Park Ave. in Tucson. A Southern California-based owner of multifamily properties purchased the asset for $2.6 million.
Alpha Wave originally acquired the property in 2017, implemented a repositioning/renovation program and rebranded the property to Skyline Park Apartments.
Built in 1985, the two-story property features 60 units in a mix of one- and two-bedroom layouts, a swimming pool and children’s play area.
Bill Hahn, formerly of Colliers and now with NorthMarq, represented the seller, while Alon Shnitzer of ABI Multifamily represented the buyer in the deal.