TUCSON-HLS Properties’ aggressive stance won it the 246-unit Skyline Gateway Apartments, located in the high-end Santa Catalina Foothills. The local apartment property owner paid $18.4 million to seller Equity Residential for ownership rights to the 1980s complex.

“I’d probably classify this a class B property in an A-plus location,” says seller representative Art Wadlund, principal with Hendicks & Partners’ Tucson office. Because of the location, he continues, the asset at 4601 E. Skyline Dr. attracted more than 10 offers.

The property is across the street from Skyline Country Club, one of Tucson’s oldest and well-known golf courses. It’s also less than one mile from the Westin La Paloma Resort and Golf Course, less than three miles from the Loews Ventana Canyon Resort and less than two miles away from La Encantada, a high-end retail center.

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