Institutional Property Advisors Closes Scottsdale Multifamily Sale
March 29, 2024
SCOTTSDALE, Ariz., March 29, 2024 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of The Hadley North Scottsdale, a 240-unit, midrise multifamily asset in Scottsdale, Arizona.
IPA executive managing directors Steve Gebing and Cliff David represented the seller and procured the buyer. The property is adjacent to the Scottsdale Quarter open-air shopping center and across the street from Kierland Commons, a pedestrian-oriented, tree-lined area with 400,000 square feet of upscale retail and dining. Proximity to the Loop 101/Pima Freeway places residents within a short drive of Scottsdale Airpark and the Kierland Corridor, one of Arizona’s three largest employment concentrations. Nearby employers include the Mayo Clinic, Vanguard, Nationwide Insurance, Axon Enterprise, and American Express.
Completed in 2014, The Hadley North Scottsdale’s apartment homes feature nine-foot ceilings, wood-style plank flooring, full-size washers and dryers, large walk-in closets, and private patios or balconies. The average unit size is over 1,000 square feet. Community amenities include a resort-style heated pool and a clubhouse with conference room and workstations.
IPA executive managing directors Steve Gebing and Cliff David represented the seller and procured the buyer. The property is adjacent to the Scottsdale Quarter open-air shopping center and across the street from Kierland Commons, a pedestrian-oriented, tree-lined area with 400,000 square feet of upscale retail and dining. Proximity to the Loop 101/Pima Freeway places residents within a short drive of Scottsdale Airpark and the Kierland Corridor, one of Arizona’s three largest employment concentrations. Nearby employers include the Mayo Clinic, Vanguard, Nationwide Insurance, Axon Enterprise, and American Express.
Completed in 2014, The Hadley North Scottsdale’s apartment homes feature nine-foot ceilings, wood-style plank flooring, full-size washers and dryers, large walk-in closets, and private patios or balconies. The average unit size is over 1,000 square feet. Community amenities include a resort-style heated pool and a clubhouse with conference room and workstations.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.