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Scottsdale MF Trades for Record $210M
Optima Sonoran Village in Scottsdale, AZ sold for a record $210.4 million. The 206-unit luxury apartment complex at 6895 East Camelback Rd., near the Waterfront, was acquired by Des Moines-based Principal Real Estate from the developer, Optima.
The property was built in 2013 just west of Scottsdale Fashion Square, in an area where a number of multifamily developments are underway. Among the amenities of the five-building community, where rents reach $4,000, are a 19,000-square-foot residents club, sport facility with an indoor basketball court, pet park, putting green and car-wash station.
The second biggest Arizona apartment deal was the IMT Deer Valley apartments in northwest Phoenix, which traded for $125.5 million last October.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition

