MG Properties Grabs Phoenix-Area Property
JLL brokered the $51 million sale by Rockwood Capital and Alliance Residential of the well-situated, highly amenitized property.
Broadstone Scottsdale Horizon
Phoenix—Rockwood Capital and Alliance Residential Co. sold Broadstone Scottsdale Horizon in North Scottsdale, Ariz., to MG Properties. Located at 9259 E. Raintree Drive, the 330-unit multifamily rental community went for $51 million. JLL Executive Vice President John Cunningham and Senior Vice President Charles Steele led the team representing the sellers.
“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.”
Situated within a high-amenity submarket that includes grocery and power centers, luxury retailers and restaurants, award-winning schools and immediate access to the Loop 101 Freeway, inside the community offers common areas featuring a resort-style pool, business center, resident clubhouse and fitness facilities.
Averaging 883 square feet, in-unit features include nine- and 22-foot ceilings, contemporary kitchens, wood burning fireplaces and dual master bedroom designs with private patio or balcony access off of every bedroom.
Image courtesy of JLL
