12/16/2008

Tucson apartments sell for $18.4 million

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A 246-unit apartment community in the mountain foothills overlooking Tucson, Ariz., has been sold to a Tucson company for $18.4 million.

HSL Properties of Tucson, which purchased the community at 4601 E. Skyline Drive, was represented by HSL Properties. The seller, Equity Residential of Chicago, was represented by Hendricks & Partners.

The property includes 14 garden-style apartment buildings in the Catalina foothills overlooking Tucson. The sale price equals about $75,000 per unit. At the time of the sale, all but 10 units were leased.

Address: 4601 E. Skyline Drive, Tucson, Ariz.

Size: 246 apartments in 14 buildings

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Filed Under: Multi-Family

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