38-Year Old Scottsdale Apartment Fetches $74.75 Million

Atlanta-based Cortland paid $370 a unit for the 202-unit Centerra community in Scottsdale. The property was sold by a partnership between Edgehill and Tanbic Company. The project is located at 11100 N. 115th St., near Frank Lloyd Wright and Shea Boulevards in the North Scottsdale area.

The partnership completed extensive renovations to all 202 units along with exterior improvements. Centerra’s amenities include a pool, fitness center and barbecue area. It’s across the street from two grocery-store anchored retail centers.

Cushman & Wakefield’s David Fogler and Steven Nicoluzakis represented the seller.