Soltra Kierland, a 202-unit multifamily community in North Scottsdale, AZ, traded hands in a $107.5 mil transaction. The deal works out to $532k/unit, which we’re told is the highest price per unit for a multifamily sale in Metro Phoenix since 2022.
Completed in 2024, Soltra Kierland is located at 7111 E. Tierra Buena Lane, north of Greenway Pkwy and just west of Scottsdale Rd. The development consists of five-over-two podium construction with expansive amenities and custom home-level unit interiors.
The community’s resort-inspired pool area has a spa, sunning decks, fire features, barbecue grills, a cornhole grotto, and an entertainment deck with passthrough seating connected to the resident clubhouse. Soltra Kierland’s expansive clubhouse features a grand room with two-story floor-to-ceiling windows and a retro-style speakeasy with beer taps.
The two-story, club-style fitness center includes state-of-the-art cardio and weight training equipment and a separate yoga terrace. Additional luxury amenities include a Soltra café wi-fi lounge, an off-leash dog park, climate-controlled dog lounge and pet spa and EV charging stations.
Individual residences are spacious with open contemporary floorplans and custom home-quality finishes. All apartment homes include wood-style flooring throughout, custom built-ins, full-size washers and dryers, extravagant walk-in closets, designer lighting, and plumbing fixtures, custom Scandinavian-inspired cabinetry, private balconies or garden terraces with picturesque views, modern roller shade window coverings, walk-in rain showers, double sinks, and programmable smart thermostats.
Gourmet kitchens feature stainless steel Energy Star appliances, an eat-in island with quartz countertops and pendant lighting, distinctive glass tile backsplash, and under-mount LED countertop lighting. Select units include a quartz waterfall island countertop, black stainless steel appliances, gas stoves, an under-counter wine fridge, soaking tubs and floor-to-ceiling bifold patio doors.
Soltra Kierland is in the heart of Kierland’s high-end retail core. Luxury lifestyle centers Kierland Commons and Scottsdale Quarter are blocks away from the community, providing residents with 584k sf of walkable high-street retail and fine dining destinations. More than a dozen world-class resorts and golf clubs are located within five miles of Soltra Kierland, including TPC Scottsdale, home of the Waste Management Phoenix Open.
CBRE's Matt Pesch, Asher Gunter, Sean Cunningham and Austin Groen represented the seller, Leon Multifamily, a subsidiary of Leon Capital Group. The buyer was a private investor.
Part of Leon Capital Group, Leon Multifamily develops vibrant communities with a dedication to sustainable design and thoughtful amenities. Leon Multifamily has recently developed best-in-class communities in Arizona, Texas, and North Carolina with more than 5,000 units under construction or pipeline.
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