HSL Sells Springs at Alta Mesa for $24.60 Million


springs at Alta Mesa(Correction: Sale price was $24.60 million not $24.75 as originally reported.)

HSL Properties (Humberto Lopez) has announced the sale of the Springs at Alta Mesa Apartments, located at 1865 N Higley Road in Mesa Arizona for $24.60 million ($123,000 per unit) for the 200-unit complex. Public recorders were unavailable for the name of buyer, but was reported to be from out of state by the seller.

Located minutes from Longbow Golf Course and Alta Mesa Country Club, the Springs ensures that there’s no shortage of recreational activities. Great shopping, restaurants, and entertainment are minutes from the community.

The property consists of studios, one- two- and three-bedroom units. Units feature air conditioning, balcony, cable ready, ceiling fan(s), dishwasher, fireplace, garden tub, hardwood flooring, loft layout, microwave, new/renovated interior, oversized closets, view, washer & dryer connections, garbage disposal, patio, and refrigerator.

Community amenities include a business center, clubhouse, covered parking, emergency maintenance, extra storage, garage, gated access, high speed internet access, hot tub, public transportation, swimming pool, wireless internet access, conference room, controlled access, media center, on-site maintenance, on-site patrol, racquetball court(s), corporate units, and pet friendly.

Currently HSL is completing the first phase of 368-units at Encantada at Tucson National. The property is anticipated to be leasing in October.

Lopez said, “We anticipate selling one more apartment community this year bringing the total sales for the year to three complexes totaling approximately 700 units.”

Brad Goff with Apartment Realty Advisors of Arizona represented both parties in the transaction and can be reached at (602) 252-4232 for more information.