KKR has recently sold The District at Scottsdale, a luxurious 332-unit Class A residential building, for a whopping $161.5 million to Fairfield Residential. According to the Phoenix Business Journal, KKR had purchased this rental community in 2021 for $150 million.
This stunning property was built in 2018 on a spacious 4.9-acre land located at15446 N. Greenway Hayden Loop in Scottsdale. It boasts of an impressive four-story residential building spanning over an area of382,378 square feet and is equipped with top-notch amenities such as an expansive multi-level clubhouse measuring around8,000 square feet,a state-of-the-art fitness center covering approximately5,000 square feet,and even features professional golf simulators and serene courtyards adorned with comfortable hammocks.
With this purchase,KKR’s presence in the Phoenix metropolitan area has expanded significantlyto include more than2,600 unitsand assets worthapproximately$650 million.This acquisition adds to KKR’s growing portfolio of high-quality real estate properties across the United States under its core plus real estate strategy,having invested close to$1.2 billionin Class A apartments within just10 months,focusing primarily on thriving markets throughout the country.
