Mike Schell, principal with NALS says approximately $750,000worth of renovations are planned for the class B complex at 2600Hayden Rd. Upgrades will soon begin on the common areas, clubhouse,pool area and leasing center.

"The location is very strong, central Scottsdale, located offthe (Loop) 101," Schell tells GlobeSt.com. Furthermore, the93%-occupied asset was built in 1989 by Mark Taylor, known as aquality area developer. Tyler Anderson and Sean Cunningham with CBRichard Ellis' Phoenix office were the brokers of record for theseller. NALS was self-represented.

Schell acknowledges he and partner Harry Nevins would like toacquire more product similar to the San Tropez and to the 308-unitSage Stone at Arrowhead in Glendale, AZ, which NALS acquired lastspring. Schell says, however, that finding quality multifamilyassets in the Phoenix area or anywhere else in the United States isdifficult.

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