Sares Regis Multifamily Value-Add Fund III, L.P. has purchases Mountain Park Apartments, centrally located within the coveted 2,500-acre Ahwatukee Foothills Village in Phoenix, Arizona.
Mountain Park is positioned immediately west of the I-10 and close to Loop 202 (SanTan Freeway), connecting residents to the West Chandler and Price Corridors as well as Tempe’s Northwest + Southwest Industrial Corridor, ASU Research Park, and Discovery Business Campus. Within a three mile radius, residents have access to abundant retail stores, supermarkets, restaurants, entertainment venues, and schools. Residents within the apartment community have access to the Mountain Park Ranch HOA facilities.
The two-story garden style property consists of 17 buildings and one amenity building. Community amenities include a community club space with lounge area, a demonstration kitchen, fitness facility, and two resort-style pools & spas. Mountain Park offers a mix of one, two, and three-bedroom floorplans, each with full-size in-unit washer/dryers, walk-in closets, large patios or balconies with outside storage. Select units have wood burning fireplaces, wood-style plank flooring, and stainless steel appliances.