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Wood Partners Divests of 277-Unit Alta Drinkwater in Scottsdale for $96.1M

Alta-Drinkwater-Scottsdale-AZ

Alta Drinkwater features 277 apartments, a rooftop lounge, fitness center, swimming pool with poolside kitchen and dining area and a resident clubhouse.

SCOTTSDALE, ARIZ. — Wood Partners has sold Alta Drinkwater, a multifamily community located in downtown Scottsdale. Starwood Real Estate Income Trust, a non-traded REIT managed by Starwood Capital Group, acquired the property for $96.1 million.

Built in 2019, Alta Drinkwater features 277 apartments; a resort-style swimming pool with poolside kitchen and dining area; rooftop lounge; fitness center; designer resident clubhouse with a 13-foot television; outdoor courtyard with gas grills and games; and secured parking. Residences at the property offer nine-, 10- and 20-foot ceilings, gourmet kitchens with oversized quartz countertops, natural gas cooktops and energy-efficient, stainless steel appliances.

Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE’s Phoenix Multifamily Institutional Properties represented the seller in the deal.

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