Stockdale Capital Partners acquired The Quincy at Kierland for $110.3 million, or about $414,000 a unit. The 266-unit mid-rise asset in Scottsdale, Arizona, was sold by Embrey in an all-cash deal. Commercial Edge reports that The Quincy at Kierland has achieved a 94.4 percent occupancy rate. Units average 867 square feet, and rents at the property average $2,389 per month.
Completed last year, The Quincy at Kierland, located at 15826 North Scottsdale Road, is situated within 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.
IPA’s Steve Gebing and Cliff David represented the seller in the deal.
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