Arizona

Tucson, Ariz. — CBRE has brokered the sale of The Parker, a 484-bed student housing community located across the street from the University of Arizona’s Fox School of Music in Tucson. Jaclyn Fitts, William Vonderfecht, Casey Schaefer and Jeff Casper of CBRE represented the seller, a partnership between The Dinerstein Cos. and Harrison Street, in the transaction. Mark Cosenza and Brett Smith of Inland Real Estate Acquisitions facilitated the purchase of the property on behalf of an affiliate of the company for an undisclosed price. The community is LEED Silver …

Flagstaff, Ariz. — TSB Realty has arranged the sale of Elara at The Sawmill, an 804-bed student housing community located near the Northern Arizona University campus in Flagstaff. TSB represented the seller, a partnership between McGrath Real Estate Partners and Kayne Anderson Real Estate, in the disposition of the property to an undisclosed buyer. TSB Capital Advisors consulted on the buyer’s joint venture partnership and secured acquisition financing for the transaction. Built in 2022, the community offers studio through four-bedroom units. Shared amenities include a resort-style swimming pool and jumbotron, …

Tempe, Ariz. — University Partners has acquired Canvas Tempe, an 826-bed student housing community located near the Arizona State University campus in Tempe. The property was acquired from a joint venture between Toll Brothers and Harrison Street for an undisclosed price. Built in 2021, the community offers a mix of studio, one-, two-, three- and four-bedroom units with bed-to-bath parity. Shared amenities include a rooftop oasis, jumbotron, e-sports lounge, sauna room, spray tan facility and an innovation lab. Tim Bradley, Shawn Sweeney and Steve Hovanec of TSB Capital Advisors arranged …

Tucson, Ariz. — Vesper Holdings has acquired Sol y Luna, a 972-bed student housing community located near the University fo Arizona in Tucson, for $203 million. The acquisition ranks among the five largest single-asset purchases in student housing history and is the largest not involving institutional capital, according to Vesper. Brad Cooke of Colliers represented the seller, Nelson Partners Student Housing, in the transaction. Tim Bradley of TSB Capital Advisors provided guidance to Vesper on the acquisition. The property is composed of two 15- and 13-story towers, which were developed …