Wood Residential Services to Manage Phoenix Community

The Statesman Group has tapped the company to run operations at Montreux, a new 335-unit property.


The Statesman Group has selected Wood Residential Services to manage Montreux, a recently completed, 335-unit community in Phoenix. The asset joins a portfolio handled by Wendi Cooley, regional vice president at WRS.

Montreaux comprises one-, two- and three-bedroom apartments, with smart-home features and washer/dryer units. Common-area amenities include two swimming pools, tennis court, clubhouse, business and fitness centers, as well as underground parking and an on-site golf simulator. According to Yardi Matrix, the property has 542 parking spaces.

Located at 5550 E. Deer Valley Drive, on approximately 9 acres, the three-building asset is just off State Route 101 and 2 miles from State Route 51. The community is 2 miles from Mayo Clinic Hospital and a 90-acre American Express campus. The surrounding area has several retail and dining options, including Desert Ridge Marketplace, which is within 1 mile of Montreux. Downtown Phoenix is 20 miles from the community.

Also in the city, Pennybacker Capital recently acquired The Osborn in Phoenix, a 302-unit property, for $42 million.

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