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Replay Destinations buys 29.2 acres near Phoenician for $65.5 million

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Replay Destinations announced today that it has acquired real estate development parcels at The Phoenician, a Luxury Collection Resort in Scottsdale, Arizona. The planned private residential community will sit at the foot of Camelback Mountain, overlooking the Phoenician Golf Club. Known as Ascent at The Phoenician, the project will become a true legacy property in one of Arizona’s most celebrated locations. Replay has acquired the development parcels from affiliates of Host Hotels & Resorts, Inc., owner of The Phoenician, a Luxury Collection Resort, which is consistently recognized as one of the world’s finest luxury resort destinations.

There were two land transactions that happened as part of the deal. The original 29.2-acre acquisition by Replay was for $65.5 million. Replay purchased those lots from Host Hotels & Resorts. Replay then turned around and sold 51 lots to Cullum Homes for $34 million, with $4 million held back. Cullum Homes is a Scottsdale-based custom home builder and was recently named National Custom Home Builder of the Year by National Association of Home Builders.

Nathan & Associates‘ Nate Nathan, Ryan Duncan, Dan Baldwin, Casey Christensen, and Dave Mullard represented both the buyers and sellers.

In June, Nathan & Associates worked with Host Hotels & Resorts Inc. to sell 34 home sites on Phoenician property to Shea Homes for $17.5 million. The company reduced the number of golf holes at the resort from 27 down to 18 and these most recent land sales came largely on land that used to have golf holes on it. Now, that property will become a luxury resort or custom homes at the base of Camelback Mountain.

“Designed as a luxurious desert sanctuary in the heart of Scottsdale, Ascent at The Phoenician will offer buyers the rare opportunity to live at one of the region’s most prestigious addresses. At this time when home is more important than ever, we have incorporated contemporary design, spacious indoor/outdoor living spaces, and private entrances in a world-class location to enjoy the beautiful desert,” said Gary Raymond, Managing Director, Replay Destinations.

Ascent at The Phoenician will consist of approximately 195 properties, including condominiums at the base of Camelback Mountain and Ascent Golf Villas along the first fairway of the Phoenician Golf Club. A planned private pool and fitness amenity tucked up against Camelback Mountain will be an intimate gathering place for wellness, socializing and relaxation. With views overlooking the new Phoenician Golf Club and Camelback Mountain along with the city lights of Scottsdale, home designs will feature contemporary architecture integrating warm, natural materials, expansive windows and large outdoor living areas. Residents will also have a limited opportunity to join a Phoenician Amenity Access Program that provides Ascent real estate owners with access to resort amenities, including the pools and fitness facility, as well as preferred pricing for golf, spa, food and beverage, and other services.

Replay Destinations has acquired real estate development parcels at The Phoenician®, a Luxury Collection Resort in Scottsdale. Known as Ascent at The Phoenician®, the project includes a planned private pool and fitness amenity tucked up against Camelback Mountain.

Reservations are now being accepted for the first release of luxury homes within the Ascent community – a limited collection of 30 golf villa homes situated on the first fairway of the new Phoenician® Golf Club and adjacent to the golf clubhouse and new Phoenician® Tavern Restaurant. Ranging from two bedrooms to three bedroom and den/office plans, the homes will offer spacious indoor living transitioning to generous outdoor living. Priced from $1,785,000, the Ascent Golf Villas offer private two-car garages with additional storage. Generous outdoor living areas include spectacular upper level patio decks opening to views of the golf course and Camelback Mountain. Priority reservations are being accepted via a formal Reservation Agreement along with a $5,000 refundable deposit. Reservation holders will have the ability to select a home at pre-construction pricing with final purchase contracts being written later this fall.

“Host Hotels and Resorts is thrilled that Replay Destinations is acquiring these real estate development parcels at The Phoenician®, a Luxury Collection Resort for this legacy project,” said Linda Laniado, Vice President of Investments at Host. “Replay is known internationally for creating one-of-a-kind projects in storied resort locations across the globe. It was their understanding and design approach to creating the ultimate luxury resort lifestyle that intrigued our team. We strongly align around the vision for this place and look forward to seeing it become a reality.”

Replay’s development team for Ascent at The Phoenician® is based in Phoenix, and they have assembled an award-winning local design team. The team includes Nelsen Partners, an architecture & planning firm founded in 1990; Vallone Design, a leading, full-service interior design firm specializing in exquisite residential and commercial projects; Floor Associates, a landscape architecture and planning firm; and bulthaup Scottsdale, a globally-recognized company producing premium kitchens custom-made in Germany.

“Scottsdale, Arizona continues to be recognized as one of the most desirable areas in the U.S. to own a home and experience everything Scottsdale and the surrounding Phoenix area offers. We could not be more pleased to be creating a residential community in such a storied location,” said Paul Jorgensen, CEO of Replay Destinations in Vancouver, British Columbia. “The market fits very well with our growing portfolio of destination real estate developments in sought after locations like Hawaii, Sonoma Wine Country, Cabo San Lucas and the Caribbean.”

With more than $2 billion in real estate projects undergoing planning and development, Replay has properties in some of the world’s most sought-after settings. The team immerses itself in the experiences of each location, delving deep into its stories and uncovering its specific character. Replay values opportunities for learning, building connections, being active and living like locals just as much as a community’s architecture, landscapes and interiors.

“The Phoenician®, a Luxury Collection Resort is one of the premier resort destinations in the United States, and we are honored to work in conjunction with Host in creating a special residential community,” Raymond said. “With The Phoenician®, a Luxury Collection Resort’s recent renovation including new restaurant concepts, a fitness facility, The Phoenician® Spa and the redesigned Phoenician® Golf Club, our residents and their guests will be in the enviable position of having The Phoenician®, A Luxury Collection Resort and its world-class amenities at their doorstep. Ascent at The Phoenician® has already been well received by potential residents who love the location, amenities and the promise of luxury.”

6390 E. Phoenician Blvd. Scottsdale, AZ 85251

Offered by Russ Lyon Sotheby’s International Realty (AZ DRE # LC646682009). The residential project described herein (the “Residential Project”) and the residential units within the Residential Project (the “Residential Units”) are not owned, developed, or sold by Host Camelback I LLC or its affiliates, and Host Camelback I LLC does not make any representations, warranties or guaranties whatsoever with respect to the Residential Units, the Residential Project or any part thereof. PHCN LandCo LLC uses the Phoenician® brand name and certain Phoenician® trademarks (collectively, the “Trademarks”) in connection with the sales and marketing of the Residential Units in the Residential Project under a limited, non-exclusive license from Host Camelback I LLC. The foregoing license may be terminated or may expire without renewal, in which case neither the Residential Units nor the Residential Project will be identified as a Phoenician® branded project or have any rights to use the Trademarks. All renderings contained herein are merely intended for illustration purposes and not as a representation, warranty or guaranty of size, layout, finishes, views, or any other characteristics of the improvements or natural features depicted. Developer reserves the right to make any modifications, additions or withdrawals to any and all descriptions or depictions or any other materials pertaining to the Project, without prior notice. THE IMPROVEMENTS DESCRIBED OR DEPICTED HEREIN (INCLUDING, WITHOUT LIMITATION, ENTRY FEATURES, LANDSCAPING IMPROVEMENTS, AMENITIES, BUILDINGS, HARDSCAPE, FENCING OR WALLS OR THE LACK THEREOF), ARE PROPOSED ONLY AND NO WARRANTY IS GIVEN OR IMPLIED THAT THE IMPROVEMENTS WILL BE COMMENCED OR COMPLETED. ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING AND SHALL NOT BE DEEMED TO BE REPRESENTATIONS OR WARRANTIES OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS, MAKE REFERENCE TO THE DOCUMENTS THAT ARE REQUIRED BY ARIZONA REVISED STATUTES, 32-2181, et seq,. TO BE FURNISHED BY A DEVELOPER TO A BUYER OR LESSEE. This is not an offer of real estate for sale or solicitation of an offer to buy, to residents of any state, province or other jurisdiction where the Project is not registered in accordance with applicable law or where such offering or solicitation would otherwise be prohibited by law. Void where prohibited. No sales will occur until permitted by the Arizona Department of Real Estate. All sales are conditioned upon the issuance by the Arizona Department of Real Estate and buyers’ receipt and acceptance of a Disclosure Report for the Project (or applicable portions thereof). Only lot reservations will be accepted by Developer, and only as permitted by the Arizona Department of Real Estate, until the Disclosure Report for the development has been issued; provided, that Developer is under no obligation to accept lot reservations. Developer is committed to the letter and spirit of the policy for the achievement of equal housing opportunity.