SCOTTSDALE, ARIZ. — Phoenix-based Bear Holdings Group has completed the sale of Gateway Scottsdale, a multifamily property located at 5245 E. Thomas Road in Scottsdale. Washington-based EZ Real Estate acquired the asset for $18.2 million, or $491 per square foot.
Situated on 2.3 acres, the two-story, 37,115-square-foot Gateway Scottsdale features 71 units in a mix of studio, one- and two-bedroom layouts, averaging 523 square feet. Community amenities include a gated entry, swimming pool with sundeck, dog park, central courtyard area with a water feature, barbecue grills and picnic areas. Constructed in 1968, the property was fully remodeled in 2021.
Chris Roach, Brad Cooke, Matt Roach and Cindy Cooke of Colliers in Arizona handled the off-market transaction.