Fund III Buys DC Ranch Scottsdale Luxury Community
SARES•REGIS Multifamily Value-Add Fund III, L.P. (SRMF VA-III) has acquired Desert Park Vista at DC Ranch, a 202 unit Class A- apartment community. Desert Parks Vista is located in the DC Ranch masterplan in North Scottsdale. Surrounding DC Ranch is the McDowell Sonoran Preserve. It is the largest urban land preserve in the United States, encompassing 30,000 acres of pristine desert landscape. DC Ranch master-plan amenities include high-end neighborhood retail with multiple grocery stores, two community centers, 47 parks, and 33 miles of interconnected walking paths and trails. As one of only two multifamily communities in the DC Ranch Master Plan, Desert Parks Vista offers affordable access to one of the most sought after residential areas in Metro Phoenix.
Conceived as condominiums, Desert Park Vista features large one, two, and three-bedroom floor plans that have unique design features including rounded corners, paneled doors, oversized windows and 8’ sliding patio doors that feature McDowell Mountain views. Units have 9’ ceilings, large kitchens with side-by-side refrigerators, walk-in closets, and full-size washer/dryers. Common areas at Desert Parks Vista are enhanced by native desert landscaping and walking trails throughout the community. Resident amenities include a resort-style swimming pool and spa with shaded cabanas, multiple gas barbecues, 24-hour fitness center, and resident clubhouse. Desert Parks Vista residents have access to two exclusive DC Ranch community centers with pool and tennis facilities.
SRMF VA-III plans to renovate all unit interiors with modern, luxurious finishes. Additionally, amenity spaces will be refreshed and receive major upgrades to create a resort-style atmosphere.