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| Broadstone Scottsdale Horizon Apartments, 9259 East Raintree Drive, Scottsdale, AZ |
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| John Cunningham |
PHOENIX, AZ – On behalf of
Rockwood Capital and Alliance Residential Company, JLL’s Capital Markets
experts announced the firm completed the sale of Broadstone Scottsdale Horizon, a 330-unit multifamily rental
community in one of the most coveted neighborhoods in North Scottsdale,
Arizona.
MG Properties purchased the community for $51 million.
Executive Vice President John Cunningham and Senior Vice
President Charles Steele led the JLL
team on the deal.
“The Phoenix multifamily
market continues its economic expansion, with a balanced supply of new units in
concert with strong job growth in leading sectors representing long-term
sustainability,” said Cunningham.
“North Scottsdale is in attractive proximity
to all of metro Phoenix’s major employment corridors, putting it in a prime
position to capitalize on the area’s strong amenity base and the appeal that
provides to a growing renter base.”
Located at 9259 E. Raintree Drive in Scottsdale,
at Raintree Drive and 92nd Street, Broadstone Scottsdale Horizon sits within a
high-amenity submarket that includes neighborhood grocery and power centers,
luxury retailers and restaurants, award-winning schools and immediate access to
the Loop 101 Freeway. The targeted submarket renter (age 25 – 34) is projected
to grow by three percent over the next five years.
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| Charles Steele |
Averaging 883 square feet, units at Broadstone
Scottsdale Horizon feature 9- and 22-foot ceilings, wood burning fireplaces,
contemporary kitchens and dual master bedroom designs with private patio or
balcony access off of every bedroom to enjoy direct mountain views.
Common
areas include a resort-style pool, resident clubhouse, business center and
fitness facility. Built in 1986, the community has enjoyed regular
improvements, but represents the opportunity to add value through additional
amenity and unit upgrades.
For more news, please visit The Investor, an
online and mobile app news source providing real-time commercial real estate
news to asset buyers and sellers around the world.
For more news, videos and
research resources on JLL, please visit the firm’s U.S. media center Web page:
http://bit.ly/18P2tkv.
For a complete copy of the company’s news release,
please contact:
Stacey Hershauer
focusAZ
Marketing & Public
Relations
(480) 600-0195
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