About
About Wildcat Canyon Village
Cushman & Wakefield is pleased to offer for sale of Wildcat Canyon Village a 76-unit lender-owned student housing community located within easy walking distance of the University of Arizona in Tucson, Arizona.
The University of Arizona, with an enrollment of over 45,000 undergraduate students, is ranked in the top 25 of public universities in the United States and offers students over 300 majors. A member of the BIG-12 Conference, the University of Arizona attracts students from all 50 states and throughout the world. As a top 20 public research institution the university has an annual research budget of over $825 million. Along with the State of Arizona and the city of Tucson, the university continues to grow at a rapid pace with an undergraduate enrollment increase of over 33% since 2015.
Residents of Wildcat Canyon Village are offered a mix of fully furnished one bedroom, two bedroom and three bedroom floor plans, each offered on a “by the bed” basis with individual 12 month lease terms (a small number of shorter term leases are offered on a select basis at a premium). Unit interiors were updated by the previous owner with updates including:
• New flooring
• New Cabinets in kitchens and bathrooms
• New kitchen appliances
• New light fixtures in kitchens and bathrooms
• New window coverings
The previous owner also started the process of converting a portion of the two-bedroom units into three-bedroom floor plans. 36 two-bedroom units have been converted to three-bedroom floor plans; however, it is our understanding that the necessary city approvals have not been obtained for occupancy of these units and therefore the current owner is not leasing the third bedroom in the converted units. A new buyer will have the option of obtaining city approval of the conversion of the two-bedroom units into three bedrooms and operate the property as a 164-bed community or convert the property back to its original format of one and two bedroom units and operate it as a 128-bed community.
Please note that the upgrades to the unit interiors were completed by the previous owner and neither the current owner nor Cushman & Wakefield has verified whether all units have been fully upgraded and whether the necessary city approvals were obtained.
Wildcat Canyon Village offers an excellent opportunity to acquire a lender-owned student housing community located within walking distance of one of the top universities in the country.