Developer sells north Scottsdale luxury property for record cash price

Dallas-based Leon Multifamily sold its Soltra Kierland luxury apartment property in north Scottsdale for $107.5 million cash.

The transaction represents the highest price per unit for a multifamily sale in metro Phoenix since 2022, said Matt Pesch, vice chairman of CBRE’s Phoenix Multifamily Institutional Properties.

The sale price amounted to $532,178.22 per unit, with the deal closing on April 15, according to Tempe-based Vizzda LLC.

Pesch, Asher Gunter, Sean Cunningham and Austin Groen represented Leon Multifamily in the transaction. Leon completed construction of the 202-unit property at 7111 E. Tierra Buena Lane in 2024.

This story is posted in partnership with Phoenix Business Journal. Click to read the full story.

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