29th Street Capital Buys Solaire on Scottsdale Apartments, a 124-unit property located in Tempe, AZ

Solaire on Scottsdale Apartments, a 124-unit property located in Tempe, AZ

Tempe, AZ.– 29th Street Capital (29SC), a privately held real estate investment firm, acquired Solaire on Scottsdale Apartments, a 124-unit property located in Tempe, Arizona. The price was not disclosed.

 

This asset marks the firm’s 21st multifamily acquisition in the Phoenix Metro & 2nd acquisition of 2023 in the market. Developed in 1963, Solaire on Scottsdale is a B- asset positioned in a Class A location. 

 The community offers residents a comfortable lifestyle, with one swimming pool, an outdoor grilling and picnic area and package lockers. 29SC plans to renovate both interior units and exterior amenities. 

 Dusty Eddy

“The acquisition of Solaire on Scottsdale comes on the heels of our acquisition of Dwell Apartments just down the road and reinforces 29SC’s strategy of acquiring high-quality assets, in desirable locations, where we can add value to residents through upgrades and improvements,” said Dusty Eddy, Senior Vice President of Acquisitions of the Southwest Region for 29SC. 

 “Residents will be able to enjoy upgraded apartments with modern amenities while taking advantage of Solaire’s proximity to the Old Town Scottsdale & Tempe Town Lake areas with their many entertainment options, retailers, and major employment centers.” 

 Solaire on Scottsdale is located immediately west of Scottsdale Road on McKellips Road in north Tempe and offers unmatched reach to several of the Valley’s most prominent employment centers, including Downtown Scottsdale, Tempe Town Lake, ASU, Midtown & Downtown Phoenix, and the Camelback Corridor. 

Contact: 

Dusty Eddy, 

Senior Vice President of Acquisitions – Southwest Region 

312.401.4668 

 deddy@29sc.co