Stockdale Capital Partners utilized a $72.3 million acquisition loan from Nuveen to acquire The Quincy at Kierland in Scottsdale. The price for the recently completed mid-rise asset was $110.3 million, or about $414,000 a unit. Embrey sold the 266-unit Scottsdale apartment complex in an all-cash deal. The Quincy at Kierland achieved a 94.4 percent occupancy rate at the time of sale. Units average 867 square feet, and rents at the property average $2,389 per month.

The five-year, floating rate loan was arranged by Cameron Chalfant, Jesse Zarouk, and Brian Eisendrath of IPA in the firm’s Los Angeles office.   

Quincy at Kierland is Stockdale’s second all-cash acquisition in the past 60 days.  In October, the firm acquired Amelia at Farmer’s Market, a 297-unit Class A multifamily community in Downtown Dallas, TX.