Scottsdale Rental Community Trades for $530K/Unit

Leon Capital sold the 202-unit Soltra Kierland in Scottsdale for $107.5 million. That comes out to over $530,000 a unit.

CBRE’s Matt Pesch, Asher Gunter, Sean Cunningham and Austin Groen represented Leon Capital Group subsidiary Leon Multifamily. A private investor acquired the community. CBRE says it’s the highest price per unit for a multifamily sale in Metro Phoenix since 2022. The apartment development was completed in 2024.

The community’s pool area has a spa, sunning decks, fire features, barbecue grills, a cornhole grotto, and an entertainment deck. Soltra Kierland’s clubhouse features a grand room with two-story floor-to-ceiling windows and a retro-style speakeasy with beer taps. The two-story, fitness center includes cardio and weight training equipment and a separate yoga terrace. Additional 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 include private balconies or garden terraces.

Kierland Commons and Scottsdale Quarter are blocks away from the community.