HSL Properties Continues to Expand North, Acquires Encantada Apartments in Peoria, AZ

Posted on August 25, 2011

HSL Properties has announced their purchase of Encantada Apartments at 10741 W. El Cortez Place in Peoria, AZ, from Wells Fargo bank.

HSL acquired the property for $25.5 million, and the acquisition marks the company’s seventh Phoenix-area multifamily purchase in the last two years. HSL Properties, a Tucson-based company, currently owns and operates over 9,500 apartment units in 37 apartment communities in Arizona. The company is also developing several luxury apartment communities throughout Tucson, including the 304-unit luxury apartment community at Riverside Crossing, scheduled to open in October 2011.

Tucson, AZ (08/25/11) – HSL Properties has announced their purchase of Encantada Apartments at 10741 W. El Cortez Place in Peoria, AZ, from Wells Fargo bank. HSL acquired the property for $25.5 million, and the acquisition marks the company’s seventh Phoenix-area multifamily purchase in the last two years. HSL Properties, a Tucson-based company, currently owns and operates over 9,500 apartment units in 37 apartment communities in Arizona. The company is also developing several luxury apartment communities throughout Tucson, including the 304-unit luxury apartment community at Riverside Crossing, scheduled to open in October 2011.

Encantada, a 271-unit community built in 2009, offers one-, two- and three-bedroom apartments with modern features and luxury details. The property features apartment homes with in-home washers and dryers, Energy Star appliances, walk-in closets, Roman soaking tubs, nine-foot ceilings, private patios and much more. Luxury amenities also extend to the community, which features a resort pool and spa area with cabanas and free WiFi, a fully equipped, professional-grade fitness center, a clubhouse with flat screen televisions and java bar, a business center and an outdoor fireside lounge.

For more information about Encantada Apartments or HSL Properties, please visit www.hslproperties.com.

About HSL Properties
Formed in 1975, HSL Properties currently owns and operates over 9,500 apartment units in 37 apartment communities and has become 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.