CBRE recently facilitated the sale of Carter, a 365-unit apartment complex in downtown Scottsdale, Arizona for $161.4 million. This transaction marks the largest multifamily sale in Arizona so far this year, with an average price of over $440,000 per unit.
The seller was represented by CBRE’s Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen from their U.S. multifamily investment team at EQT Exeter . The buyer was a partnership between Kairoi Residential and German American Realty – both experienced fund managers specializing in residential rental properties across the United States.
Completed in 2018 and situated on Scottsdale Road , Carter offers residents luxurious amenities such as a pool with a poolside kitchen and dining area, outdoor lounges with space for dining or relaxing by the fireplace , fitness center including spin and yoga rooms , contemporary clubhouse , business center,and dog park .
EQT Exeter is an established global real estate investment manager managing nearly $30 billion worth of equity . Meanwhile,Kairoi Residential has transacted over $10.3 billion across 68 thousand multifamily units nationwide through its partnership with German American Fund .
This news was originally published on Connect CRE website.
