HSL Properties today announced its acquisition of Broadstone Queen Creek Apartments, located at 20934 E. Ocotillo Road in Queen Creek, Arizona, from Alliance Residential. HSL purchased the 264-residence community for $28 million on August 31, 2012.
Tucson, AZ (09/05/12) – HSL Properties today announced its acquisition of Broadstone Queen Creek Apartments, located at 20934 E. Ocotillo Road in Queen Creek, Arizona, from Alliance Residential. HSL purchased the 264-residence community for $28 million on August 31, 2012.
Built in 2008 by Alliance, Broadstone Queen Creek features 258,336 square feet of building space situated on a 12.65 acre parcel. The luxury community offers one-, two-, and three-bedroom apartment homes. The community has a fully appointed fitness center, two resort-style pools and spas, outdoor fireplace, fire pit with cushioned seating, internet lounge and a multimedia social room. The property will be renamed Encantada at Queen Creek.
The Queen Creek property is the latest property acquisition for HSL Properties, which, along with its affiliates, owns 41 apartment communities in Arizona. HSL Properties also broke ground on Encantada at Dove Mountain, a 272-unit, $29 million apartment project on August 27th. Additionally, it plans to commence construction on Encantada at Steam Pump Ranch, a 288-unit, $30 million project, in the fourth quarter 2012. HSL has recently completed the constructions of Encantada at Riverside Crossing, a 304-unit, luxury apartment community located at 1925 W. River Road in Tucson. The company continues to seek apartment and hotel acquisition and development opportunities in Arizona.
For more information about HSL Properties, please visit www.hslproperties.com.
Media: To schedule an interview with Omar Mireles, Executive Vice President of HSL Properties, please call the contacts at the bottom of this press release.
Property: Broadstone Queen Creek Apartments
Address: 20934 E. Ocotillo Road in Queen Creek, Arizona
Purchase Date: 8/31/12
Formed in 1975, HSL Properties currently owns and operates more than 10,000 apartment units in 41 apartment communities and is the largest apartment owner in Southern Arizona. HSL Properties was originated with the concept of creating value for its investors by providing excellent service to its residents while controlling operating costs. Visit www.hslproperties.com for more information.
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