HSL Acquires 180-Unit Luma Apartments in Northwest Tucson for $31.85 Million

TUCSON, Arizona (Oct. 30, 2026) — HSL Luma Apartments LLC purchased the 180-unit Luma Apartments at 2600 W. Ina Road in northwest Tucson for $31.85 million, or approximately $176,944 per unit.

The seller was Village at The Foothills Owner LLC, of Beverly Hills, California. The transaction closed October 9, 2026.

Clint Wadlund and Hamid Panahi with Institutional Property Advisors (IPA) assisted with the sale.

Built in 1985, Luma Apartments comprises 21 two-story buildings totaling approximately 160,000 square feet on 16.33 acres. The purchase price equates to approximately $199 per square foot.

The community offers one- and two-bedroom apartments ranging from 757 to 1,158 square feet. Floor plans include one-bedroom, one-bath units; two-bedroom, one-bath units; and two-bedroom, two-bath units in two sizes.

Amenities include two pools, a spa, pickleball, basketball and tennis courts, putting greens, picnic areas and a dog park. Residents also have access to a clubhouse, business center, lounge, fitness center, and covered and uncovered parking.

The buyer’s manager is identified as HSL Financial Management LLC, with Humberto Lopez, member.

According to the sales document, the total consideration includes $3.185 million was allocated to personal property, including leases, appliances, equipment, furniture and common area amenities.

For additional information, see RED Comp #12764.