SCOTTSVILLE, AZ - Knightvest Capital, a vertically integrated multifamily investment firm, announced the acquisition of the Avana Desert View community in Scottsdale, Arizona. This successful close represents the eighth investment in Knightvest's Fund II, which remains open to new investors through 2025. The acquisition brings Knightvest's total footprint in the Phoenix metropolitan area to over 5,000 units owned and managed, reinforcing the company's continued expansion across high-growth Sun Belt markets.
Built in 1996, the 412-unit garden-style apartment community is situated in one of the most desirable submarkets of the Phoenix metro area, offering residents access to top-ranked schools, major employment hubs, and premier lifestyle destinations. The community features resort-style amenities and a highly sought-after Scottsdale address, making it a compelling addition to Knightvest's portfolio.
As part of its proven value-add strategy, Knightvest plans to enhance Avana Desert View with substantial renovations. Planned improvements include modernizing unit interiors, refreshing common areas, and upgrading community amenities.
"Scottsdale represents one of the most economically dynamic submarkets in the Southwest, and Avana Desert View is a perfect example of the type of asset we target: well-located, high-quality communities with opportunity for value creation," said David Moore, Knightvest founder and CEO. "With this acquisition, we see a tremendous opportunity to apply our winning playbook to enhance the resident experience and deliver dependable, long-term returns for our investors."
The Phoenix metropolitan area continues to attract new residents and employers, driven by strong job growth in sectors such as technology, healthcare, and finance. Knightvest's investment in Scottsdale is a strategic move to deepen its presence in a high-demand market poised for continued expansion.
Source: Knightvest Capital