U.S. real estate private equity investment firm Next Wave Investors has completed the sale of Orange Tree Village Apartment Homes in Tucson, Arizona for about $16 million.

The property, located at at 645 W. Orange Grove Road, comprises 110 units on a 9.1-acre property in Tucson’s Casas Adobes neighborhood.

ABI Multifamily represented both the seller and the buyer, a private investment partnership consisting of BlueSky Equity, Vista Lagune Asset Management, Hamick Asset Management and Valley Oaks Capital.

More so, the asset, which underwent a major renovation after the previous purchase by Next Wave, consists of one- and two-story buildings with a mix of 20 one-bedroom, 66 two-bedroom and 24 three-bedroom apartments.