Stockdale Capital Partners acquired The Quincy at Kierland for $110.3 million, or about $414,000 a unit. The 266-unit mid-rise asset in Scottsdale, Arizona, was sold by Embrey in an all-cash deal. Commercial Edge reports that The Quincy at Kierland has achieved a 94.4 percent occupancy rate. Units average 867 square feet, and rents at the property average $2,389 per month.
Completed last year, The Quincy at Kierland, located at 15826 North Scottsdale Road, is situated within the 730-acre master-planned community of Kierland in North Scottsdale. The community offers one- and two-bedroom units, each with 10-foot ceilings, stainless steel appliances, stone countertops and hardwood floors, along with walk-in closets.
Common-area amenities include a pool with pool house and fireside lounge, as well as a fitness center, yoga room, pet park and 24-hour package room. The property’s location gives residents access to retail, dining and entertainment options at the nearby Kierland Commons and Scottsdale Quarter.
IPA’s Steve Gebing and Cliff David represented the seller in the deal.
BLDG Management Co., Inc announced that The Orchard, Queens’ tallest tower, has surpassed 90% leased across its 824 residences nine months after launching residential leasing. The milestone occurs as the 70-story Long Island City development recently signed its first three retail tenants: K-beauty brand Tokimo, Japanese tea and beverage brand Mollytea and financial technology platform...
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Leyden Senior Apartments, a new four-story independent senior living development in Franklin Park, recently opened. Located at 2506 N. Mannheim Road, Leyden Senior Apartments offers one- and two-bedroom residences. The adjacent newly constructed Carl Fiorito Senior Center will be available to the entire community. Owned by Leyden Apartments LP, Leyden Senior Apartments was designed by...
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Northmarq’s Investment Sales team, led by Bobby Schiavone, Jordan Arand and Adam Klenk, led the sale of The Bend Apartments, a 312-unit garden apartment community located at 1909 Greentree Blvd. in Clarksville, Indiana. Northmarq represented the seller, a regional multifamily developer. The buyer was a private investor. “The Bend generated significant investor demand, further proving...
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