Luxe Scottsdale represents TruAmerica’s twentieth investment in the Phoenix MSA. The Property was built in 2015 and features premium amenities and modern interior finishes. The property represents an ideal core-plus investment, with the opportunity to benefit from low capital expenditures, below market in-place rents, and the organic growth of the Phoenix market. TruAmerica also plans to make targeted improvements to exteriors and amenity spaces. These improvements will include interior refresh of business center, fitness center updates, updated signage, full exterior paint, exterior lighting, pet park addition, dog wash upgrade, package lockers installation, new pool furniture, and landscaping upgrades.
Luxe Scottsdale has immediate access to Indian School Road, the primary feeder into downtown Scottsdale. Downtown Scottsdale is Phoenix’s largest entertainment corridor with over 100 local restaurants, shops, art galleries, and nightlife venues. Diverse amenities and abundance of cultural attractions in a walkable environment perpetually distinguishes Downtown Scottsdale from other neighborhoods in Phoenix and appeals directly to a growing high-end resident demographic in Scottsdale. Luxe Scottsdale’s central location less than a mile from the Loop 101 provides residents with direct-access to high-wage employment hubs throughout Metro Phoenix’s rapidly expanding technology and finance sectors from Scottsdale and the Camelback Corridor to Tempe and Chandler. Affluent demographics, high barriers to entry, and overall demand in the Downtown Scottsdale submarket will continue to fuel strong multifamily fundamentals for the community.