Connor Group Acquires 330-unit Luxury Apartment Community For $141M In Scottsdale, AZ

A luxury apartment community in Scottsdale, Arizona, located at 8688 E. Raintree Drive, has been sold in a closed transaction. The property, consisting of 330 units, was acquired by the Connor Group for a total purchase price of $141 million. With an average price per unit of $427,273, this multifamily asset showcases the allure of the Phoenix market.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $141,000,000
• Units: 330
• Price Per Unit: $427,273
• Address: 8688 East Raintree Drive
• Market: Scottsdale, AZ

The acquisition of this 330-unit luxury apartment community marks the Connor Group's entry into the Phoenix market. The buyer, Connor Group, successfully closed the deal with the support of their lender, Morgan Stanley Bank. This expansion into Scottsdale underscores the Connor Group's commitment to growth and investment in thriving markets.

Note: The Connor Group's investment in the Scottsdale property highlights their confidence in the potential of the Phoenix market, as they strategically position themselves for future success.