HSL Buys 44 Monroe Residential Tower in Phoenix for $50.6M

by Nellie Day

PHOENIX — HSL 44 Monroe LLC has acquired a controlling interest in 44 Monroe, a 198-unit multifamily tower in Downtown Phoenix, for $50.6 million. The luxury tower is located at its namesake, 44 Monroe, on the northeast corner of 1st Avenue and East Monroe Street in the Financial District.

The property is Arizona’s tallest luxury residential tower. It includes one- and two-bedroom units, as well as three-bedroom, two-bath penthouse apartment homes.

Units feature floor-to-ceiling windows, private balconies and dual master vanities, among other amenities. Common-area amenities include an outdoor terrace with gas grill and fire pit, a spa and swimming pool with sundeck, conference room, fitness center, clubhouse with Wi-Fi and a 24-hour lobby attendant.

HSL will continue to operate the property as a luxury apartment home building. HSL Properties now owns 42 apartment communities and five hotel properties in Arizona with its affiliates.

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