**Huxley Scottsdale Sold to Pillar Communities for $76 Million**
High Street Residential, the residential subsidiary of Trammell Crow Company, has sold Huxley Scottsdale, a newly developed multifamily community located in Scottsdale, Arizona. The property was acquired by Phoenix-based Pillar Communities for $76 million, equating to approximately $395,000 per unit.
Huxley Scottsdale, which opened in 2024, was developed in partnership with PGIM Realty. The five-story residential complex is located at 8555 E. Raintree Drive and features modern architectural design by ESG. Construction was completed by general contractor Weitz, and Greystar served as the property manager.
The new owner, Pillar Communities, secured a $41.5 million acquisition loan from Nationwide Insurance Company. The loan has a maturity date set for 2035.
The property offers one- and two-bedroom apartment floor plans, ranging in size from 551 to 1,235 square feet, with an average unit size of 763 square feet. Each unit includes private patios or balconies.
Community amenities include a fitness and yoga center, a swimming pool and spa, a rooftop deck with a barbecue area, a business lounge, a conference room with a coffee bar, and a clubhouse.
The acquisition underscores continued interest in high-quality multifamily assets in the growing Scottsdale market.
