Investment Overview

Positioned within North Phoenix’s rapidly improving submarket, Siesta 16 (the “Property”) benefits from it’s coveted centralized location, less than a mile from the Loop 101 Freeway. Among the densest hubs for finance and business services jobs in Greater Phoenix, The Deer Valley and north I-17 Employment Corridors host globally recognized companies such as USAA, Honeywell, Wells Fargo, Farmers Insurance, and Cigna. These corridors are now experiencing significant growth fueled by TSMC’s presence and the arrival of its affiliates and suppliers, including ASML, LAM Research, Applied Materials, and Sunlit Chemical. Over the next five years, the area is projected to gain more than ±80,000 new jobs, reinforcing its status as a thriving center for innovation and opportunity. Capitalizing on its premier location, Siesta 16 is primed to attract the growing influx of white-collar professionals drawn by Taiwan Semiconductor Manufacturing Company’s (TSMC) highly anticipated ±$65 billion campus. North Phoenix offers immense potential, combining exceptional demographics, recent lifestyle enhancements, and infrastructure upgrades with the transformative high-tech vision of the north I-17 corridor. Completed in 2015, Siesta 16 (“the Property”) features 16 units with spacious 2 Bdr 2 Bath floorplans, averaging 1,100 square feet per unit. New ownership will have the opportunity to acquire a rare, newly constructed garden-style asset at an attractive basis with the future opportunity of upgrading all unit interiors with premium finishes.