Stockdale Capital Acquires Phoenix-Area Asset in All-Cash Deal
The 266-unit community opened its doors last year.
Stockdale Capital Partners has acquired The Quincy at Kierland, a 266-unit midrise asset in Scottsdale, Ariz. The property sold for $110.3 million, according to public records. San Antonio-based merchant builder Embrey sold the asset, which opened last year, in all-cash deal.
The Quincy at Kierland, at 15826 North Scottsdale Road, is in the 730-acre master planned community of Kierland in North Scottsdale. The community offers one- and two-bedroom units, each with 10-foot ceilings, stainless steel appliances, stone countertops and hardwood floors, along with walk-in closets.
Common-area amenities include a pool with pool house and fireside lounge, as well as a fitness center, yoga room, pet park and 24-hour package room. The property’s location gives residents access to retail, dining and entertainment options at the nearby Kierland Commons and Scottsdale Quarter.
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In the year since it was completed, The Quincy at Kierland has achieved 94.4 percent occupancy, according to Yardi Matrix data. Units average 867 square feet, and rents at the property average $2,389 per month.
IPA’s Steve Gebing and Cliff David represented the seller in the deal. In prepared remarks, Embrey said it plans to use the sales proceeds for future development projects. Currently the builder is at work on projects in Texas, Tennessee, Colorado and other states.
The deal is the second in the past month by Los Angeles-based Stockdale. Last month, the private equity firm acquired Amelia at Farmer’s Market, a 297-unit community in downtown Dallas, in a similar all-cash transaction. The investor says that more multifamily acquisitions will be closed in the coming months.
Scottsdale submarket is still strong
The Phoenix multifamily market, whose supply has been growing rapidly in recent years in response to population growth, has started to feel the impact of that supply. Average rents in the market dropped 2.7 percent year-over-year in July, according to Yardi Matrix data, reaching an average of $1,553 a month. Occupancy is down as well, with the rate for stabilized properties off 20 basis points compared with a year ago. That figure hit 93.1 percent in June.
On the other hand, of the 46 submarkets that Yardi Matrix tracks, seven enjoyed gains in advertised asking rents compared with a year ago. One of those gaining submarkets is Scottsdale-North, whose advertised asking rent is up 3.2 percent to $1,996. This also happens to be one of the top three Phoenix submarkets in terms of the rents its properties can command.
Developers are responding to the large supply with a slowdown in development, though hardly a stop. New multifamily construction in greater Phoenix was down 24.2 percent in July year-over-year, putting the rate closer to historic norms. Construction starts decreased to 8,686 units across 41 properties in 2025 through July. During the same period in 2024, 11,464 units across 48 properties started construction.
