Fairfield Residential Acquires The District At Scottsdale In $161.5M Deal From KKR

The District at Scottsdale, a 332-unit Class A residential building located at 15446 North Greenway Hayden Loop in Scottsdale, AZ, has been sold for $161.5 million. The property spans across 4.9 acres and is part of the multifamily asset category. The sale price translates to approximately $486,446 per unit.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $161,500,000
• Address: 15446 North Greenway Hayden Loop, Scottsdale, AZ
• Market: Scottsdale, AZ
• Acres: 4.9

The buyer in this transaction is Richard Boynton, representing Fairfield Residential. On the other hand, the seller is Matt Salem, who represents KKR. KKR originally acquired The District at Scottsdale in 2021, purchasing it for $150 million. With the sale to Fairfield Residential, KKR expands its residential real estate holdings in the Phoenix metropolitan area to over 2,600 units, valued at approximately $650 million. This deal aligns with KKR's core plus real estate strategy, which focuses on high-growth markets throughout the United States.