TUCSON, Arizona — Berkadia completed the recent sale of The Enclave at the Foothills, a 300-unit multifamily property in Tucson, Arizona. Representing the seller, Senior Managing Director Art Wadlund and Associate Director Clint Wadlund of the Tucson office completed the $21.8 million sale ($72,666 per unit).
The deal closed on February 1 and represents the highest sale price and unit price this year for multifamily transactions in the metro Tucson market. This high sale is followed by the Peaks at Redington that was also handled by the Wadlunds at Berkadia.
Both located in Arizona, the seller was Scottsdale-based PEM Investments, and the buyer was HSL Properties, Inc. in Tucson.
“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 units. 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.
Contact Art Wadlund at 520.299.7200 and Clint Wadlund at 520.615.1100 for more information.
To learn more, see RED Comp #4519.