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August, 2005

Aderra Condominium Residences: First Phase Sells Out, New Sales Process a Success

Scottsdale, Arizona: Starpointe Communities, Arizona's largest condominium developer, sold out last week on the first phase of Aderra, a North Phoenix luxury condominium community currently under construction.

The first phase sold out in four days to those selected during the sales drawing in June. Starpointe recently changed their sales process to accommodate the large volume of interested buyers.

"It was obvious after sales for our last community that we had to create a system to deal with the enormous response, but that was also fair and equitable," Robert Lyles, Partner at Starpointe Communities, said. "The sales process for Aderra went very smoothly, and we received quite a lot of positive feedback."

Starpointe required interested buyers to fill out a registration card that was then put into a random drawing. Over 3000 cards were received for the 312 unit community.

Aderra is located on the southwest corner of Tatum Blvd. and Paradise Village Parkway South. The 11-acre property is adjacent to Stonecreek Golf Course, just down the street from Paradise Valley Mall, and in the midst of major retail, dining and business.

The private gated community will have 13 three-story buildings with four spacious floor plans ranging from 811 SF to more than 1,200 SF in one, two or three bedrooms. Homes will feature impressive 10' ceilings, fireplaces, open floor plans, ceramic tile in entries, kitchens and baths, and granite slab kitchen countertops and Kohler faucets.

With its extraordinary location, many homes will offer spectacular golf course and mountain views. Residents will also enjoy underground parking with elevator access, a designer furnished clubhouse, separate fitness center, large pool and spa, and professional landscaped grounds.

The second sales phase will take place this Fall with the third and final phase selling in Spring 2006. Construction on the upscale community began in May with work on the underground parking garages. The first homeowners are expected to move-in at the end of 2006.

Starpointe's next community to begin sales will be Corriente, a 192 luxury condominium community on Indian Bend just east of Scottsdale Rd. Currently, the closed Holiday Inn Sunspree resides on the property, and demolition is expected to begin in Fall with sales following in early 2006.

Other sites are also in the early development stages across the Valley.

Starpointe has an eight year history of providing exceptional value and quality to homeowners throughout the valley with over 2000 homes built and hundreds in the planning stages. To learn more about Starpointe, visit www.starpointeproperties.com.

Media Contact: Lynlee Sullivan (480) 609-6779.

This information was current at the time it was published.

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