One of the ways Holualoa provides investors excellent returns on investment is through intensive asset management and by flexibly tailoring the approach to meet the needs of each investment.
When we acquired Tanque Verde Apartments, it was a distressed apartment community that had fallen on hard times and required significant redevelopment. Holualoa immediately began a large rehabilitation project that included new roofs, new balconies and new interiors. To improve insulation and ensure energy sustainability, we installed solar power and solar hot water systems.
This gated 426 unit apartment community is prominently located on East Tanque Verde Road in the northeastern Tucson metropolitan area. Nestled at the base of the majestic Santa Catalina Mountains and just ten miles from the central business district, Tanque Verde Apartments offer the best of two worlds: a friendly, suburban atmosphere with the proximity of city life close enough for every day convenience, but far enough away to leave it all behind.
The property consists of 23 two- and three-story garden-style buildings with studio, one- and two-bedroom units in nine individual floor plans averaging 607 square feet. Interior amenities include air conditioning, ceiling fans, dishwashers, frost-free refrigerators, microwaves and window blinds. Select units include private balconies or patios, fireplaces, private entries, storage and walk-in closets. Community amenities include a clubhouse with kitchen, swimming pool and spa, laundry facilities, tennis, basketball and racquetball courts, playground and barbeque areas.
Tanque Verde was purchased in 2010 for $11,400,000 and sold in 2014 for $21,300,000.