SRG Fund IV Acquires Arboretum at South Mountain in Phoenix, AZ

The SRG Fund has acquired Arboretum at South Mountain Apartments, located in the Ahwatukee Foothills of Phoenix, Arizona, the southernmost village in Phoenix. Completed in 1999, the community includes 312-units, spread over 12+ acres in thirteen buildings of 3-story design. With seven different one, two, and three-bedroom spacious floor plans, there is a space to meet every resident’s needs.

Bordered by South Mountain Park and the Gila Indian Reservation, this unique location provides access to major employment centers. Residents will find no shortage of recreational and retail amenities in Ahwatukee. Proximity to adjacent I-10 will connect them to the rest of central Phoenix in minutes.

Planned improvements to the units include the installation of hard surface quartz countertops with cut-down bars, complementary tiled backsplash, new under-mount sinks with faucets and hardware, contemporary paint colors, upgraded LED lighting, and plank vinyl flooring throughout.

Exterior and common area upgrades will include a refreshed contemporary paint scheme, enhanced landscaping, and additions to the common areas. We will be upgrading the pool area and outdoor lounge area to capture a resort-like feel, as well as revitalizing and expanding the fitness center. Renovations are also planned for the clubhouse and leasing center.

Congratulations to everyone who worked on this acquisition.

William B. Montgomery
Chief Investment Officer