FLAGSTAFF, AZ – November 27, 2023 – McGrath Real Estate Partners, in partnership with Kayne Anderson, is proud to announce the successful sale of Elara at The Sawmill, a premier 332-unit luxury community in Flagstaff, Arizona.
Elara at The Sawmill, the newest luxury community in Flagstaff, offers a diverse range of living spaces from studios to four-bedroom apartments. Each unit is equipped with designer packages, smart 55" TVs, granite countertops, stainless steel appliances, and other high-end finishes. Located conveniently near Northern Arizona University and within walking distance of various shops and restaurants, Elara has established itself as a cornerstone of upscale living in Flagstaff.
Community Amenities: The community features a heated resort-style pool, Flagstaff's most extensive residential gym, and a variety of exclusive features that enhance residents' lifestyles.
Technology Integration: Every unit is outfitted with smart home features such as smart locks and smart TVs, providing a modern and convenient living experience.
Sustainability: Incorporating eco-friendly solutions in the building's design, Elara appeals to residents seeking sustainable living options.
Strategic Asset Management:
With strategic positioning and a focus on operational excellence, Elara at The Sawmill achieved its full potential in value. Elara at The Sawmill, tailored to meet the Flagstaff community's needs and bolstered by partnerships with local organizations, successfully transformed from a new residential development project into a thriving hub of community life.
“Flagstaff, often referred to as the 'City of Seven Wonders,' holds a special place in our hearts. The sale of Elara at The Sawmill is not just a transaction, but a testament to our shared vision and commitment,” stated Michael S. McGrath, President and CEO of McGrath Real Estate Partners.
About McGrath Real Estate Partners:
Based in Houston, Texas, McGrath Real Estate Partners is a leading force in multifamily and student housing developments, boasting over $1.5 Billion in developed or acquired assets across the United States. This family-owned business is grounded in integrity, hard work, and innovation. We are dedicated to lasting relationships and take pride in our high-performing team and strategic partnerships which have been instrumental in our success. For more information or to discuss potential partnerships, please contact us.
For media inquiries, please reach out to: Barrett Kirk
About Kayne Anderson:
Established in 1984, Kayne Anderson is a prominent investment firm managing $33 billion in assets. With a skilled team of 330 professionals across the U.S. and Europe, including 140 investment experts, the firm excels in alternative investing, particularly in real estate, infrastructure, credit, and growth capital sectors. Their approach focuses on responsible investment practices and community empowerment, with a strong commitment to generating strong risk-adjusted returns. Kayne Anderson's expertise in real estate investment and management has been pivotal in their successful partnerships and projects.