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California Investor Snaps Up Tucson Apartment Complex for $37.3 Million

JV Sells 96% Occupied Springs at Continental Ranch
The 196-unit Springs at Continental Ranch in Tucson, Arizona, was 96% occupied at closing. (CoStar)
The 196-unit Springs at Continental Ranch in Tucson, Arizona, was 96% occupied at closing. (CoStar)
By Lauri Breeze
CoStar Research
January 30, 2020 | 4:45 P.M.

MCM Diversified, Inc., a full service investment and management firm headquartered in San Jose, California, has purchased the Springs at Continental Ranch apartment complex in Tucson, Arizona, from The Bascom Group and funds managed by Oaktree Capital Management, LP for $37.25 million, or about $190,000 per unit.

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