SURPRISE, ARIZ. — Avanti Residential has completed the disposition of Villas at Mountain Vista Ranch, an apartment property located at 16630 N. Reems Road in Surprise. An undisclosed buyer acquired the asset for $85 million.
Built in 2003, Villas at Mountain Vista Ranch features 256 apartments in a mix of one-, two- and three-bedroom floor plans with an average unit size of 1,008 square feet. Apartments include in-unit washers/dryers. Onsite amenities include a pool with lounge seating and a fitness center.
Brad Goff, Brett Polachek and Chris Canter of Newmark represented the seller in the transaction. Newmark also arranged financing for the acquisition.