MG Properties Grabs Phoenix-Area Property
- Dec 23, 2016
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