Local developers have reacquired a northwest apartment complex.
HSL Properties Inc. bought The Enclave at the Foothills, a 300-unit complex at 7300 N. Mona Lisa Road, for $21.8 million.
The complex was built in 1986 and features one-, two- and three-bedroom garden apartments on more than 11 acres.
“HSL was former owner of The Enclave, and is the current owner of the adjacent property, Catalina Canyon,” said Arthur Wadlund, senior managing director for Berkadia. “This familiarity with the asset and location was a large factor in the buyer’s decision to purchase.”
Berkadia represented the seller, Scottsdale-based PEM Investments.
The purchase of the property brings HSL's portfolio of apartments to 31 in the Tucson area, said Omar Mireles, the company’s president.
