Institutional Property Advisors Closes Tucson Multifamily Asset Sale
March 17, 2026
TUCSON, Ariz., March 17, 2026 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) dedicated to serving the company’s institutional clients, announced today the sale of Brookwood, a 272-unit multifamily property in Tucson, Arizona.
“Brookwood is well-positioned within East Tucson and benefits from proximity to multiple employment sectors inclusive of healthcare, business and professional services, retail, and hospitality, offering residents access to approximately 3,200 employers and more than 77,00 jobs” said Clint Wadlund, IPA managing director investments. “This acquisition reflects the continued confidence investors have in Tucson’s multifamily fundamentals. With a diversified employment base, and sustained renter demand, Tucson continues to attract long-term capital. The buyer has been steadily expanding their footprint in the market, and this transaction reinforces their commitment to investing in Tucson’s long-term growth,” said Hamid Panahi, IPA senior managing director investments. Wadlund and Panahi, represented the seller and produced the buyer.
The property is located on Kolb Road, just south of Broadway Boulevard, both of which are major transportation corridors, and allows direct access to Interstate 10 and Downtown Tucson. Shopping at Circle Plaza is within walking distance, and the University of Arizona is a short drive away. Major employers in the area include Raytheon, Davis-Monthan Air Force Base, Banner Health, Tucson Medical Center, and the Carondelet Health Network.
Built in 1973, Brookwood has a unit mix of one- and two-bedroom apartments with private patios, wood-style vinyl plank flooring, and well-appointed kitchens. Community amenities include a swimming pool and spa, fitness facility, grilling stations, a dog park, and electric vehicle charging stations.
“Brookwood is well-positioned within East Tucson and benefits from proximity to multiple employment sectors inclusive of healthcare, business and professional services, retail, and hospitality, offering residents access to approximately 3,200 employers and more than 77,00 jobs” said Clint Wadlund, IPA managing director investments. “This acquisition reflects the continued confidence investors have in Tucson’s multifamily fundamentals. With a diversified employment base, and sustained renter demand, Tucson continues to attract long-term capital. The buyer has been steadily expanding their footprint in the market, and this transaction reinforces their commitment to investing in Tucson’s long-term growth,” said Hamid Panahi, IPA senior managing director investments. Wadlund and Panahi, represented the seller and produced the buyer.
The property is located on Kolb Road, just south of Broadway Boulevard, both of which are major transportation corridors, and allows direct access to Interstate 10 and Downtown Tucson. Shopping at Circle Plaza is within walking distance, and the University of Arizona is a short drive away. Major employers in the area include Raytheon, Davis-Monthan Air Force Base, Banner Health, Tucson Medical Center, and the Carondelet Health Network.
Built in 1973, Brookwood has a unit mix of one- and two-bedroom apartments with private patios, wood-style vinyl plank flooring, and well-appointed kitchens. Community amenities include a swimming pool and spa, fitness facility, grilling stations, a dog park, and electric vehicle charging stations.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.