PORTFOLIO TOURS THIS WEEK: Phoenix, Thursday July 23 10:00 - 1501 Grand Avenue | 60 units 12:00 - 1780 W Missouri Avenue | 173 units 2:00 - 1711 W Bell Road | 150 units Tucson, Friday July 24 10:00 - 4098-4141 E 29th Street | 200 units 11:30 - 314 E Benson Highway | 50 units 1:00 - 1025 E Benson Highway | 136 units 2:30 - 5251 S Julian Drive | 175 units *5251 S Palo Verde Rd, aka 5251 S Julian Rd Las Palmas Extended Stay Suites features a hybrid operating model, generating revenue from both extended-stay accommodations and traditional apartment rentals. Las Palmas is an expansive, Value-add property, formerly a nationally branded hotel, and still has many of the bonus areas of a large hotel including multiple pools and jacuzzis, large lobby, multiple offices, and a non-operational restaurant area with significant food service appliances still in place. Also included is a large banquet hall / ballroom which is regularly leased for various celebrations and events. The property is currently in lease-up, at approximately 85% occupancy. Las Palmas is ideally positioned in Tucson's Southside submarket with convenient access to Interstate 10 and Tucson International Airport. Surrounded by major employment centers, transportation infrastructure, and everyday retail amenities, the property is minutes from Downtown Tucson, the University of Arizona, Davis-Monthan Air Force Base, and the Kino Sports Complex, supporting diverse and durable rental demand.