The Arizona Republic
The Borgata of Scottsdale, an upscale shopping landmark on the border of Scottsdale and Paradise Valley, has been sold to a local homebuilder with plans to redevelop the site into a luxury condominium community.
Scottsdale-based AV Homes Inc., which recently relocated its headquarters from Poinciana, Fla., purchased the nearly 7-acre property on Sept. 7 for $12.8 million.
Property records show the previous owner, a subsidiary of Phoenix-based RED Development Inc. named RED Borgata LLC, sold the property to Civila of Arizona LLC, a subsidiary of AV Homes.
Dismissal likely in suit between Scottsdale developer, critic/The Arizona Republic