The multifamily asset involved in this transaction is the Avana Desert View apartments located at 17030 North 49th Street, Scottsdale, AZ. The property consists of 412 units and was sold for $119,000,000, translating to a price per unit of $288,835. The complex was originally built in 1996, and the buyer intends to implement major renovations to modernize the property.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $119,000,000
• Buyer: David Moore - Knightvest Capital
• Seller: Greystar
• Units: 412
• Price Per Unit: $288,835

This transaction marks Knightvest Capital's eighth investment for its Fund II and adds to its existing 5,000-unit portfolio in the Phoenix area. The strategic acquisition aims to enhance their asset base in Scottsdale.