Berkadia is pleased to present The Havenly Fountain Hills, a 147-unit luxury, Built-for-Rent (BFR) community located in Fountain Hills, an affluent enclave in the North Scottsdale submarket. Completed in 2022, The Havenly Fountain Hills integrates oversize, one- and two-story apartment homes on a true residential scale complete with private entryways and backyards. The gated community incorporates attractive community amenities including a dedicated leasing center, alluring clubhouse, resort-style pool, fitness center, and putting green.

The Havenly Fountain Hills is completing a successful lease-up without concessions, offering an investor the opportunity to capitalize on its trending, high organic rent growth. Recent leases at the property are capturing substantial premiums of $333 (14%) over in-place rents. The Havenly’s strong income trend has been emblematic of the Phoenix’s market fundamentals. SFR/BTR rent growth in the Phoenix market soared 13.4% year-over-year in 3Q2022. With no multifamily pipeline within a five-mile radius and as the only BTR community in the submarket, The Havenly at Fountain Hills is excellently positioned to continue to capture robust fundamentals.

The Havenly Fountain Hills is well positioned within the heart of the town of Fountain Hills, a stunning oasis identified by its majestic fountain ​ and sweeping views of the McDowell Mountains. The Havenly’s proximity within the downtown area puts residents in the middle of the bustling town complete with highly rated public schools, growing retailers, restaurants, cafes, highly rated golf courses, and a multitude of outdoor recreation options. An affluent enclave bordering North Scottsdale, recent home sales in Fountain Hills are now averaging over $1M. Increasing home values combined with a higher cost of financing is making home ownership more cost prohibitive, driving continued demand for The Havenly’s unique BFR housing.

The town of Fountain Hill’s pulls from several of Phoenix’s most dynamic employment hubs. Offering magnificent maneuverability into the east valley, downtown Tempe, and Sky Harbor airport via the Beeline Highway and a quick commute into North Scottsdale via Shea Blvd, nearby employment features notable Fortune 500 firms and durable healthcare. Residents are easily connected to all of North Scottsdale’s popularized shopping and entertainment options including Kierland Commons, Scottsdale Quarter, Salt River Fields, Top Golf, and more. The Havenly Fountain Hills is offered free and clear allowing investors to explore new financing.