Scottsdale, Ariz.— February 9, 2023 – Located in Phoenix’s most sought-after suburbs, Banyan at South Mountain and Banyan Preserve are filling the space between renting and owning for many in the metro area. Mark-Taylor Residential, the leading developer, owner and investment manager of multifamily communities in the Southwest, welcomes two upscale single-family rental communities to their expansive management portfolio.

Owned by Banyan Residential, these family- and pet-friendly communities offer a lock-and-leave, maintenance-free resort-style environment featuring all the perks of traditional multifamily housing. Designed for effortless suburban living – Banyan at South Mountain and Banyan Preserve offer three- and four-bedroom floor plans with amenity-rich spaces that create elevated living experiences.

“Banyan at South Mountain and Banyan Preserve, meet the need of many looking for luxury home living without the risk and responsibility of home ownership,” said Natalie Jones, Managing Director of Multifamily Investments at Mark-Taylor Residential.

Recently acquired by Banyan Residential, Banyan at South Mountain brings a new, luxe living destination to the Valley. Made up of 72 luxury single-family rental homes, these modern living spaces are enhanced with SMART technology which creates a favorable balance of convenience and privacy.

Banyan at South Mountain, located at 1540 E. Burgess Lane, is just west of 16th Street and south of Broadway Road. Near South Mountain Park and Sky Harbor International Airport. This private, gated community is comprised of spacious three- and four-bedroom detached homes. Residents can enjoy fenced-in backyards, gourmet kitchens and attached two-car garages.

Sister community, Banyan Preserve, is Mark-Taylor Residential’s second asset in partnership with Banyan Residential. Located at 1220 E. Baseline Road, Banyan Preserve’s 38 luxury homes infuse exceptional living with the modern touches just 20 minutes from downtown Phoenix, where local conveniences are all within reach of this peaceful suburban community.

Maximizing space and privacy, the Banyan Reserve detached homes offer one- and two-story floor plans, kitchen pantries, private backyards and car garages. With open-concept floor plans, hardwood-style flooring and 9-foot ceilings, Banyan Preserve marries function and aesthetics.

At Banyan at South Mountain and Banyan Preserve, residents can experience the same amenities and high-quality apartment living, while having the space and privacy of a home. For more information about Banyan at South Mountain and Banyan Preserve, visit www.mark-taylor.com/apartments/az/phoenix/banyan-at-south-mountain or www.mark-taylor.com/apartments/az/phoenix/banyan-preserve.

Forecasted population growth projected to complement firm’s long-term investment strategy

Tucson, Arizona – Northland Investment Corporation, one of the top privately held multifamily owner and operators in the country, announced its acquisition of Villas at San Dorado, 10730 N Oracle Rd, in the Tucson, Arizona suburb of Oro Valley. Northland now owns 27 properties in the Southwest across Texas, Arizona and New Mexico.

San Dorado is Northland’s fourth property in the greater Tucson area, a market that is projected to see significant population growth with as many as 16,000 new residents annually through 2019, according to CBRE Econometric Advisors, in part due to its strong defense, biotech and education ecosystems. Cost of living in the region is also extremely affordable, with an average rent-to-income ratio of 21.9% in Oro Valley.

The property commanded a sale price of $50.55 million ($184,500 per unit).

The Mark Taylor built residential community offers nine spacious floor plan options of one, two and three bedroom apartments with modern and custom finishes. Just some of the upscale indoor features include extra-high 9-foot ceilings, plush carpeting, kitchen islands, custom wood cabinets, stainless steel appliances, walk-in closets, and a private patio or balcony. Although rent prices are still to be determined, apartment sizes range from a 779-square-foot one bedroom with one bathroom to a 1381-square-foot three bedroom with two bathrooms.

“Tucson’s economy continues to gain momentum in recent years, and we remain optimistic about the long-term outlook,” said Matthew Gottesdiener, Chief Investment Officer, Northland. “We’re excited to be acquiring the preeminent suburban apartment community in Tucson. Villas at San Dorado was built by one of the most respected developers in the western United States; the property offers an unparalleled suite of onsite amenities and rent levels that are sustainable and affordable for a diverse group of residents.”

Located in Northwest Tucson’s coveted suburb of Oro Valley, Villas at San Dorado was built in 2014 and consists of 274 units in 26 buildings spread across 15.7 acres of lush desert landscape in the foothills of the Santa Catalina Mountains. In addition to its prime location, luxe amenities include a spin-bike room, yoga studio, and an expansive resort-style pool with sun-decks, cabanas, and a whirlpool spa, as well as access to eight golf courses within five miles of the property.

The CBRE Team of Michael Sandahl, Martin Encinas, Sean Cunningham, and Tyler Anderson negotiated the transaction for the seller.

In addition to Villas at San Dorado, Northland’s other communities in Tucson include Hilands, Promontory, and Valley View.

Northland Investment Corporation based in Newton, Massachusetts, owns and operates 92 properties nationwide – 79 multifamily communities with 23,737-units, 2.2 million total square feet of developed property, and land for the development of up to 3,000 more units. Northland manages seven real estate investment funds, maximizing risk-adjusted returns through value-added acquisition, development, asset management and property management strategies.

For more information, Encinas can be called at 520.323.5173 and Sandahl should be reached at 520.323.5115.

To learn more, login and see RED Comp #4871

[mepr-show rules=”58038″]Sale date: 6/1/2017. Document #2017-1520496, APN: 220-09-116, Situs: 520-447-5555, Northland contact: 617-965-7100[/mepr-show]

The Shops at San Dorado sold to California-investor, Enos Ranchos LLC of Santa Ynez, CA (Samuel Rhea, member) for $11.28 million ($550. PSF) for this Class A property, location, tenants and construction quality.

Build in 2013 and expanded in 2015, San Dorado is at First and Oracle Road, the highest traffic intersection in Oro Valley, with major retailers such as Target, Home Depot, Fry’ s Grocery, Ross and PetSmart, in the primary core of residential, commercial and employment district for Oro Valley. Addresses of building sold was 10580, 10592 & 10604 N Oracle Road in Oro Valley.

The 20,558-square-feet of shop space on 2.3 acres was 100% leased and 94% occupied at time of sale by nationally recognized tenants: Chipotle, Verizon Wireless, Panera Bread, Mattress Firm, Jersey Mike’ s Subs and MOD Pizza and 72% of these leased by publicly traded tenants such as Verizon Wireless (NYSE: VZ), Chipotle (NYSE: CMG), Panera Bread (NASDAQ: PNRA) and Mattress Firm (NASDAQ: MFRM).

Greg Laing, Dan Gardiner, Teal Bloom and Tyler Chester with Phoenix Commercial Advisors represented the seller, KDC San Dorado Retail LLC, a Mark Taylor and Kitchell Corporation joint venture.

For additional information, Laing can be reached at 602.734.7207, Gardiner is at 602.734.7204, Bloom can be contacted at 602.288.3476 and Chester should be called at 602.288.3480.

To learn more, see RED Comp #4098.