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Los Portales

STRATEGY Multifamily Value

LOCATION Tucson AZ

TYPE Arizona

Los Portales is a 416-unit, Class B apartment community located in Tucson, Arizona, which is home to the University of Arizona and numerous Fortune 500 companies that have operations there including Amazon, Caterpillar, Raytheon Missile Systems, Bombardier, GEICO, and Homegoods.

The property was constructed in 1987, with most of its units in original condition, except for minor upgrades in select units. Rincon's business plan is to reposition the Property to a Class B+ community by renovating unit interiors with new cabinets, black appliances, faux-granite countertops, new flooring, and lighting to create a more modern look and feel. The renovation plan also includes creating a modern fitness center, upgrading the Property's pool areas, renovating its laundry facilities, and other community amenities.

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