Rincon Partners, LLC (“Rincon”) is pleased to announce the sale of Galeria del Rio (the “Property”) on July 14, 2021 for $32.0 million. Rincon acquired the 101-unit, class B+, property located in Tucson, AZ in March 2016 for $19.3 million as part of its 1031 exchange investment strategy.  The Property consists of three and four bedroom, two story, high construction quality townhome style units averaging over 1,500 square feet. Each unit has 2 ½ bathrooms, an attached two car garage, large walk-in closets, and a small private back yard. 

Galeria Del Rio is located near an employment hub, including Northwest Medical Center, and the immediate neighborhood offers numerous diverse, high-quality retail opportunities in close proximity. Tucson is the second largest city in Arizona and the home of the University of Arizona and the University of Arizona Medical School. 

Rincon is headquartered in Phoenix, AZ with an acquisition office in Atlanta, and targets opportunistic and value add multi-family and self-storage commercial real estate in the Southwest and Southeast United States.

For further information on new acquisitions and joint venture opportunities, please contact Brian McGlynn, Chief Investment Officer, in our Phoenix, AZ office at (480) 378-2959.