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District at Scottsdale Grows KKR’s Footprint
KKR recently acquired The District at Scottsdale, a 332-unit class-A residential building. Constructed in 2019, The District in Scottsdale is located in Scottsdale’s lifestyle hub, directly adjacent to the dining, shopping and entertainment options of Scottsdale Quarter and Kierland Commons. RPM Living will continue to manage the property.
The purchase grows KKR’s residential real estate footprint in the Phoenix metropolitan area to more than 2,600 units and approximately $650 million. Including The District at Scottsdale, KKR has acquired approximately $1.2 billion of class-A apartments for its core-plus real estate strategy during the last 10 months with a focus on high-growth U.S. markets.
“The District at Scottsdale is well-positioned with a great location and world-class amenities, supporting Phoenix’s continued growth as a leading destination to live and work,” said Michael Friedland, managing director at KKR.
- ◦Sale/Acquisition
