Los Angeles Investor Purchases Newly Built Luxury Adult Apartments
Phoenix (November 7, 2025) -- 55 Resort Scottsdale, a recently completed luxury adult apartment property in Scottsdale, has been sold to a Los Angeles investor for $32.75 million ($321,078 per unit). The development, located at 9449 N. 90th St., is situated within the popular McCormick Ranch master plan community.
"This transaction underscores the exceptional demand for high-quality active adult housing in Scottsdale,” said Matt Roach of Colliers. “Despite being only nine percent occupied at the time of sale, 55 Resort Scottsdale attracted significant investor interest due to its Scottsdale location and the powerful demographic tailwinds driving this asset class."
DEM, Inc., a Los Angeles-based private real estate investment company focused on acquiring midsize, newly constructed multifamily properties, purchased the property from Dallas-based Velocis Edison McCormick JV, LP. Matt Roach, Chris Roach, Brad Cooke and Cindy Cooke of the Cooke Multifamily Team at Colliers handled the transaction.
55 Resort Scottsdale, completed in 2025, is the first multifamily development to be constructed within McCormick Ranch in the past 30 years. McCormick Ranch, one of Scottsdale's first master planned communities, is comprised of 4,200 acres and is home to 27,000 residents. The area features 10 scenic lakes, two golf courses and 25 miles of walking/biking paths.
Located near the intersection of Via Linda and 90th Street, the 55 Resort Scottsdale development offers direct access to the Greenbelt, an 11-mile park system that offers year-around recreation. The property is walkable to shopping, dining, and medical providers. The average home price within a one-mile radius of the apartment building is $1,500,000.
55 Resort Scottsdale is a core active adult community with 102 units that average 671 square feet in size. The three-story building is situated on a 2.5-acre site with views of surrounding mountains. Apartments are appointed with modern finishes, including quartz countertops, a tiled shower with a bench, a full-sized washer & dryer, and a private patio/balcony. Designed for affluent, active adults, 55 Resort Scottsdale offers residents an abundance of amenities. These include a resident lounge, community bar, and inviting fireplace within the Club House. A state-of-the-art fitness center, wellness studio, and space for group yoga, fitness, and health-related programs are also on-site. In addition to a resort-style heated pool and spa, the outdoor offerings include a firepit, outdoor lounge areas, and rooftop deck. Residents also benefit from a community library, business center, club room, dog wash station and bike wash. Carports are included for residents, as well as EV charging stations.