The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
July 9, 2020
 Search RENTV
 Video Programs
News Home Page
Southern California
Northern California
Pacific Northwest
Prop. Management
Press Releases
 R. E. Marketplace
Service Providers
Property Spotlight
 RENTV  Conferences
Subscriber Login:
Forgot Password?

Printer-friendly Version   Email an Associate
Newly Constructed AZ Res Community Trades for $96 Mil


Alta Drinkwater, a 277-unitmultifamily community in downtown Scottsdale, was acquired by Starwood Real Estate Income Trust Inc ("SREIT"), a nontraded REIT managed by Starwood Capital Group, for $96.15 mil ($347k/unit). The property, built in 2019, was sold by Wood Partners.

Alta Drinkwater features a resort-style swimming pool with poolside kitchen and dining area, a large roof-top lounge, state-of-the-art fitness center, designer resident clubhouse with a 13-foot television, outdoor courtyard with gas grills and games and secured garage parking. Individual residences at Alta Drinkwater have condominium-quality finishes with nine, ten, and 20-foot ceilings and gourmet kitchens featuring oversized quartz counter¬tops, natural gas cooktops and energy-efficient stainless-steel appliances.

CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of Phoenix Multifamily Institutional Properties represented Wood Partners in the sale.

“Alta Drinkwater’s market-leading amenities, Class A finishes and iconic visibility on Scottsdale Road created a unique core offering that attracted significant interest from some of the top buyers in the country,” said Gunter. “Downtown Scottsdale is one of the top performing Class A submarkets in the Western United States.”

According to CBRE Research, year-over-year multifamily rent growth in Phoenix increased 8.0% in Q3 2019, the strongest growth of all metros in the United States, while rent growth in Downtown Scottsdale increased 7.6% during the same time.

Return to the Archive page





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2020 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media