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Dallas-Based Developer Buys Kierland Site for MF Project
Dallas-based Leon Capital acquired 1.74 acres in the Kierland submarket of Northeast Phoenix, with plans to develop a multifamily project. Berkadia’s Mark Forrester handled the $6.54-million deal on behalf of an unnamed local Arizona investor.
The buyer reportedly plans to commence demolition of the existing site improvements soon, so it can build a 202-unit project with a density of roughly 116 units per acre.
Located at 7111 East Tierra Buena Ln., the site is situated west of Scottsdale Road and the Scottsdale Quarter mixed-use development. That also makes it within walking distance of the Kierland master- planned community.
For comments, questions or concerns, please contact Dennis Kaiser
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