SCOTTSVILLE, AZ – Knightvest Capital, a vertically integrated multifamily investment firm, announced the acquisition of the Avana Desert View community in Scottsdale, Arizona. This successful close represents the eighth investment in Knightvest’s Fund II, which remains open to new investors through 2025. The acquisition brings Knightvest’s total footprint in the Phoenix metropolitan area to over 5,000 units owned and managed, reinforcing the company’s continued expansion across high-growth Sun Belt markets.
Built in 1996, the 412-unit garden-style apartment community is situated in one of the most desirable submarkets of the Phoenix metro area, offering residents access to top-ranked schools, major employment hubs, and premier lifestyle destinations. The community features resort-style amenities and a highly sought-after Scottsdale address, making it a compelling addition to Knightvest’s portfolio.
As part of its proven value-add strategy, Knightvest plans to enhance Avana Desert View with substantial renovations. Plotted improvements include modernizing unit interiors, refreshing common areas, and upgrading community amenities.
“Scottsdale represents one of the most economically dynamic submarkets in the Southwest, and Avana Desert View is a perfect example of the type of asset we target: well-located, high-quality communities with opportunity for value creation,” said David Moore, Knightvest founder and CEO. “With this acquisition, we see a tremendous opportunity to apply our winning playbook to enhance the resident experience and deliver dependable, long-term returns for our investors.”
The Phoenix metropolitan area continues to attract new residents and employers, driven by strong job growth in sectors such as technology, healthcare, and finance. Knightvest’s investment in Scottsdale is a strategic go to deepen its presence in a high-demand market poised for continued expansion.

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BEVERLY HILLS, CA – A real estate fund managed by Kennedy Wilson has bought, in separate transactions, Tides on Commerce – a 336-unit apartment community in North Las Vegas, Nevada, and Finisterra – a 356-unit apartment community in Tempe, Arizona, for a total of $166 million, excluding closing costs.
The fund invested a total of $61 million of equity in these transactions. The low-density, garden-style apartment properties offer a diverse mix of unit sizes and plentiful amenities.
The two acquisitions contribute to Kennedy Wilson s growing multifamily portfolio with ownership interest in nearly 40,000 units.
These acquisitions reflect our team s ability to leverage our local expertise and source attractive investment opportunities at a discount to replacement cost, said Kurt Zech, President of Kennedy Wilson s multifamily division. Both communities are located in markets emerging from a period of elevated deliveries and concessions and entering a period of strong economic growth with minimal new supply. We are excited to build on Kennedy Wilson s long-held strategy of identifying and improving high-quality communities that provide relative affordability in burgeoning markets with the support of our strategic partners.
North Las Vegas was the second fastest-growing city in Nevada from 2020–2023 and is projected to grow nearly twice as quick as the broader Las Vegas region over the next five years. Recent local job growth has been driven by a rapid expansion in the industrial and healthcare sectors, and residents of Tides on Commerce benefit from immediate access to major employment centers including Apex Industrial Park, VA Southern Nevada Hospital, and a growing cluster of medical and logistics facilities.
Finisterra is located in the South Tempe submarket, part of the highly desirable Kyrene School District and near many need-based retailers including Costco, Walmart, Lifetime Fitness, and Ikea, as well as numerous outdoor activities at the Tempe Sports Complex, South Mountain Trail, and Ahwatukee Lakes Golf Club. The property s convenient access to the 10 freeway enables residents to easily commute to employment hubs in Chandler (Intel, B of A, Wells Fargo, Northrup Grumman) and North Tempe (Arizona State University, State Farm, SRP).
Kennedy Wilson has an approximate 14% interest in the commingled fund that bought the two properties and serves as asset manager.

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JACKSONVILLE, FL – FaverGray, a leading general contractor specializing in multifamily and mixed-use developments, announced the groundbreaking of N4, a new luxury apartment community located at 715 Clay Street in downtown Jacksonville, Florida.
Developed in partnership with Gateway Jax, N4 marks the second phase of development in the Pearl Square district, following the successful start of N11, located directly across the street and currently under construction. This project also represents FaverGray’s second collaboration with Gateway Jax, reinforcing a strong partnership and shared vision for the transformation of downtown Jacksonville.
The N4 project will transform a 1.27-acre site into a seven-tale mixed-use development featuring 286 luxury apartment units and approximately 20,000 square feet of ground-floor retail space across five bays.
“This project represents a pivotal moment in the continued revitalization of downtown Jacksonville,” said Ben Hinson, Executive Vice President at FaverGray. “We’re proud to be building our second project for Gateway Jax and to support their long-term vision by bringing new housing and retail to this growing district. It’s a meaningful opportunity to contribute to the city’s forward momentum.”
John Kitchens, Division Leader at FaverGray, added: “Our team is honored to be part of Gateway Jax’s ongoing development efforts. With each project, we continue to build not just structures, but lasting relationships and impactful contributions to Jacksonville’s future.”
Located within the vibrant Pearl Square neighborhood, the N4 community is surrounded by green space, bike trails, a revitalized waterfront, and festival-ready streets. Plotted resident amenities includes: A modern fitness center; multi-use club room with a theater, lounge, and venue; and two-level integrated parking garage.
N4 will feature concrete podium construction for flood resiliency, transitioning to wood framing on upper levels. The first two floors will be constructed of post-tensioned concrete, and the building exterior will be finished with fiber cement siding and stone accents for a sleek, urban appearance.
The site development scope includes utility connections, hardscape, landscaping, irrigation, asphalt paving, concrete sidewalks, and public realm enhancements that reflect Pearl Square’s long-term urban design plot.

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