Siegel Group acquires Arizona property for $8.3 million

The Siegel Group Nevada Inc., a real estate investment and management company founded by Stephen Siegel, recently acquired a 483-unit extended-stay property in Arizona previously operated under the Legacy Suites brand for $8.3 million.

Built in 2008 and located between Phoenix and Tucson in Casa Grande, Ariz., the property is comprised of 10 buildings totaling nearly 200,000 square feet on approximately 8 acres with a mix of studio- and one-bedroom units that are fully furnished.

The acquisition of its newest location increases the properties operated under the various Siegel Suites brands to 34 with additional locations scheduled to open in 2015. In addition to the company’s many Siegel Suites locations, The Siegel Group also owns and operates a commercial real estate portfolio comprised of apartments, hotels, retail, and office.

The Siegel Group, a real estate investment and management company founded by Stephen Siegel with offices located in Las Vegas, Nevada and Studio City, Calif.