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Multifamily investment specialist Knightvest Capital has acquired Avana Desert View, a 412-unit apartment community located in Scottsdale, Ariz. The deal represents the eighth investment in Knightvest’s Fund II, which remains open through 2025.

The property offers one-, two- and three-bedroom units with an average overall size of 933 square feet. Rents at have gyrated up and down in recent years, and currently average $1,661 a month, down from $1,767 a month in 2021, Yardi Matrix reports. The community is currently 97.3 percent occupied.