Scottsdale, Ariz.-based PEM Investments sold The Enclave at the Foothills, a 300-unit multifamily property in Tucson, Arizona, to HSL Properties, Inc., for $21.8 million.
Berkadia Senior Managing Director Arthur Wadlund and Associate Director Clint Wadlund represented the seller.
“HSL was former owner of The Enclave, and is the current owner of the adjacent property, Catalina Canyon. This familiarity with the asset and location was a large factor in the buyer’s decision to purchase,” said Arthur Wadlund.
Built in 1986, The Enclave at the Foothills is located at 7300 N. Mona Lisa Road, affording convenient access to West Ina Road and North La Cholla Boulevard. The one-, two- and three-bedroom floor plans feature a full-size washer and dryer in unit. Select units also include a fireplace and walk-in closets. Residents can enjoy community amenities, such as two swimming pools, a fitness center, a clubhouse, a spa and tennis courts.
Top employers in the area include the Foothills Mall, Omni Tucson National Resort, Northwest Medical Center and Afni.