Summary:
- Transwestern facilitated the $25 million sale of the 2.5-acre Palm Shadows apartment site at 1815 E. Speedway Blvd., Tucson, representing the seller in the transaction with Mortensen Development.
- Mortensen Development plans to sell the property to the Collegiate Housing Foundation, which will partner with the University of Arizona to build a new 19-story, $250 million student dormitory accommodating over 1,200 students.
- The project marks the first new dormitory on the University of Arizona campus since 2019, supporting the university’s objective to house all freshmen on campus by fall 2028.
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