Sorrento Property Group Sells 325-Unit Tucson Multifamily Community

NEW YORK, NY, October 2, 2026 /CourierPR/ -- Sorrento Property Group, led by founder and CEO Raphael Toledano, has completed the sale of Avani North, a 325-unit garden-style multifamily community in Tucson, Arizona, for $31.5 million to Tower 16 Capital Partners. This transaction marks another step in the firm's disciplined portfolio strategy, as Sorrento Property Group continues to refine its focus on larger multifamily communities, resident-focused investments, and long-term ownership opportunities across the Sunbelt.

Avani North, located at 2660 N. Alvernon Way, traded for approximately $96,900 per unit. The sale reflects Sorrento Property Group's commitment to active ownership, targeted capital improvements, and the long-term quality of the resident experience. During its ownership, the firm focused on strengthening the property while reinforcing the view that multifamily communities are not merely financial assets but places where residents build their daily lives.

Toledano, the founder and CEO of Sorrento Property Group, emphasized the importance of creating a community that residents could genuinely be proud to call home.

The transaction comes as investors continue to focus on garden-style multifamily communities across the Sunbelt, where population growth, housing affordability, and long-term demographic trends support demand for quality rental housing. For Sorrento Property Group, the investment strategy extends beyond identifying attractive acquisitions. The firm seeks opportunities where active ownership, operational improvements, and long-term stewardship can enhance the resident experience while supporting durable value for investors.

Sorrento Property Group, founded by Toledano, has a portfolio of approximately $1.4 billion in real estate transactions across 11 states and more than 4,300 residential units. The company focuses primarily on multifamily communities in growth markets across the United States, taking a disciplined, hands-on approach to real estate investing. Sorrento's mission is to create better homes and build stronger communities through well-maintained communities, responsive management, and carefully selected improvements intended to benefit residents, strengthen the surrounding neighborhood, and support the long-term performance of each asset.

The Avani North sale reflects the continued evolution of Sorrento Property Group under Toledano's leadership toward larger multifamily communities where scale can support operational excellence, thoughtful capital investment, and disciplined ownership. As the firm expands across high-growth Sunbelt markets, Toledano remains focused on communities where active management and strategic improvements can strengthen both the resident experience and the long-term competitive position of the property.