New York-based Investment Firm Adds Scottsdale Community
- Feb 29, 2016
Scottsdale, Ariz.–Broadstone Lincoln, an apartment community in Scottsdale, was recently purchased by The Praedium Group. The NYC-based real estate investment firm is expanding its residential holdings with the acquisition of the LEED Platinum-certified asset in one of the fastest growing areas of the Phoenix MSA.
Located at 7100 East Lincoln Drive, the 264-unit community is in the immediate proximity of Five Star Development’s newly approved $2 billion Ritz-Carlton Paradise Valley development. The three mile area includes upscale shopping centers, Scottsdale Fashion Square, and the Scottsdale Museum of Contemporary Art. Nearby employers include Yelp, Groupon, McKesson, Zenefits, Scottsdale Healthcare, Weebly, and CA Technologies.
According to Praedium Group Managing Director Asim Hamid, the property features granite countertops, gas cooktops, stainless steel appliances, floor to ceiling windows, and below-grade parking. The resident amenity package also includes a two story fitness center, as well as resort-style pool with outdoor cabanas.