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Real estate transactions

Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Elevate, a 144-unit apartment property in Tucson. The asset traded for $21.8 million, or $151,389 per

Meritage announces three new developments in the Tucson area

The real estate market in Tucson remains more than hot, and that goes for homes currently on the market and ones that aren’t even finished yet. Meritage Homes, a national

Texas-based Builders FirstSource acquires Arizona building materials supplier for $400M

On Monday, May 24, Texas-based building supplier Builders FirstSource announced it entered into an agreement to acquire Cornerstone Building Alliance (also known only as Alliance), the largest independently operated supplier

Tucson ranks among hottest rental markets in nation

It’s no news that Tucson’s housing market is firmly in sellers’ hands; houses for sale can receive more than a dozen offers in their first days on the market, often for tens of thousands more than their asking price. But a new report from RENTCafé indicates that mid-sized markets such as Tucson are also leading in rental competitivity, fueled by the housing market.  The market report, “The Hottest U.S. Rental Markets: Mid-sized Hubs Take the Lead in Competitivity,” found that 96% of apartments in Tucson are occupied with an average of 14 prospective renters per apartment, placing Tucson as the 15th most competitive rental market in the nation. This ranks Tucson alongside cities like Colorado Springs, Boise and Sacramento. 

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